ChainCatcher reports that Paolo Zanghieri, Senior Economist at Generali Investments, stated that he and his team believe the rate cuts reflected by the market exceed what the Federal Reserve is likely to implement. "We believe there is a 50% chance of a rate cut next month. Given the limited new data, it would be reasonable for the Federal Reserve to wait until January next year to cut rates, while signaling a dovish stance. More importantly, based on hopes for a rapid decline in inflation, the market expects nearly four rate cuts next year, which seems overly optimistic. We expect only a 50 basis point cut by summer."