The probability of the Federal Reserve cutting interest rates on Polymarket has decreased by 11% over the past 24 hours, now standing at 28%. This decline follows a previous peak of 39%, with trading volume approaching $1.8 million. The shift comes amid rising core PCE data, which has been unfavorable for a dovish stance by the Fed. Current forecasts indicate that the Fed is expected to implement rate cuts of 25 basis points each in September 2026 and March 2027. This contrasts with earlier predictions that anticipated rate cuts in June and September of this year.