Odaily Planet Daily News: Citadel Securities stated that the strong US economy and stubborn inflation will lead to the Federal Reserve only cutting interest rates once again in 2024. Michael de Pass, Global Head of Interest Rate Trading at Citadel Securities, said in an interview, "I would boldly say that we will ultimately only see a 25 basis point rate cut for the rest of this year." The market "still suggests a 50 basis point rate cut this year. When we look at it, whether in terms of the strength of the underlying economy or the stickiness of inflation, this number is a bit too high." After creating strong job data in the United States in September, swap traders have lowered their expectations for further rate cuts by the Federal Reserve, currently expecting a rate cut of about 47 basis points by the end of 2024. Before the release of the employment report, they expected to cut interest rates by about 75 basis points by the end of the year. Michael de Pass said that the adjustment is reasonable, but still too radical. (Golden Ten P)
