Ira Jersey, a U.S. interest rate strategist at PANews, predicts aggressive rate cuts by the Federal Reserve. The Fed is expected to wait until the labor market weakens and inflation concerns subside before making any cuts. Despite initial market expectations of timing, Jersey believes the market might have misjudged the pace of rate reductions. However, he expects a rapid reduction in rates, potentially reaching 3% at year-end. Nick Timiraos, a prominent ‘Fed Whisperer,’ has also indicated that the April employment report weakens the likelihood of rate cuts in June despite the remaining time until the meeting. This is because only one additional employment report is scheduled before then. Therefore, the Federal Reserve doesn’t currently require any statements regarding its actions for the upcoming meeting.