Golden Finance reported that "Dr. Doom" economist Nouriel Roubini believes that the market's pricing that the US economy is heading for a hard landing and that the Federal Reserve will cut interest rates sharply is too pessimistic. He said: "There is some important evidence that the economy has slowed down, but I don't think the data shows that there will be a hard landing soon. There are actually some strong factors in the economy." Roubini made these remarks at a time when the market expects the Federal Reserve to cut interest rates by about 100 basis points by the end of the year. Although the market is nervous about a recession, he pointed out that similar judgments in the past have been wrong. "I think the stock market has predicted ten of the past three recessions. The market often misjudges the economic situation and the actions of the Federal Reserve."