Before tonight's CPI data is released, the probability of the Federal Reserve raising interest rates within the year is 68.8% According to BlockBeats, on June 10th, according to CME's "Federal Reserve Watch" data, the probability of the Federal Reserve raising interest rates this year is 68.8% before tonight's release of the US May CPI data. The probability of a cumulative interest rate hike of 25 basis points is 43.1%, the probability of a cumulative interest rate hike of 50 basis points is 21.2%, the probability of a cumulative interest rate hike of 75 basis points is 4.2%, and the probability of a cumulative interest rate hike of 100 basis points is 0.3. The US Bureau of Labor Statistics will release May CPI data at 20:30 tonight. The market generally expects CPI to rise by 0.5% month on month in May, with a year-on-year growth rate of 4.2%. If this expectation is fulfilled, it will bring the US CPI back to 4% for the first time since May 2023 and reach its highest level since April 2023. In terms of core CPI, the market expects a month on month increase of 0.3% in May, with a year-on-year growth rate of 2.9%. [Original link]