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[Société Générale Strategist: Market Expectations for Fed Rate Cuts Are Too High] Société Générale interest rate strategist Subadra Rajappa stated that despite Federal Reserve Chair Jerome Powell clearly indicating that a December rate cut is not a certainty, the market remains overly optimistic in pricing the Fed's monetary policy easing. She believes that the recent two rate cuts were measures taken to anticipate a deterioration in the labor market, but the room for further rate cuts may have closed. Rajappa pointed out that the U.S. economy is performing strongly, inflation remains sticky, and the Fed is striving to strike a balance between preventing economic downturns and curbing inflation.