Polymarket "Federal Reserve interest rate cut" probability dropped by 11% in 24 hours, currently reported at 28%

The probability of the Polymarket "Federal Reserve to cut interest rates" event has dropped by 11% in the last 24 hours, currently reported at 28%, having previously reached as high as 39%. The trading volume for this event is nearly $1.8 million.

Previously, the continuous increase in core PCE is unfavorable for the Federal Reserve's dovish stance. In addition, it is expected that the Federal Reserve will cut interest rates by 25 basis points in September 2026 and March 2027, whereas the previous forecast was for cuts in June and September of this year.