CME FedWatch pricing on Sept. 23 showed a 54.2% probability that the Federal Reserve will raise rates by 25 basis points at its October meeting, compared with a 45.8% chance of holding the target range at 3.75%-4.00%. For December, the market assigned a 10.8% probability to rates remaining at 3.75%-4.00%, a 47.8% probability of a cumulative 25-basis-point increase and a 41.4% probability of a cumulative 50-basis-point increase.