[Generali Economist: A Fed Rate Cut in January Next Year is More Reasonable] Generali Investments senior economist Paolo Zanghieri stated that he and his team believe the market's expectations for the extent of Federal Reserve rate cuts are too high. They estimate a 50% probability of a rate cut next month. Given the limited new data, it would be more reasonable for the Fed to cut rates in January next year, while possibly signaling a dovish stance. Zanghieri pointed out that the market's expectation of nearly four rate cuts next year is overly optimistic; they anticipate only a 50-basis-point rate cut by summer.