Odaily News Citadel Securities said a strong U.S. economy and stubborn inflation will lead the Federal Reserve to cut interest rates only once more in 2024. "I will be bold and say that we will only end up seeing 25 basis points of rate cuts for the rest of the year," Michael de Pass, global head of rates trading at Citadel Securities, said in an interview. The market "is still suggesting a 50 basis point rate cut this year. When we look at it, that number is a little too high, both in terms of the strength of the underlying economy and the stickiness of inflation." After the United States created strong job data in September, swap traders have lowered their expectations for further Fed rate cuts, and now expect a rate cut of about 47 basis points by the end of 2024. Before the release of the employment report, they expected a rate cut of about 75 basis points by the end of the year. Michael de Pass said the adjustment makes sense, but it is still too aggressive. (Jin Shi P)