[TD Securities: The Federal Reserve May Head Towards Zero Rate Cuts] According to Golden Finance, Gennadiy Goldberg, the head of U.S. interest rate strategy at TD Securities, stated that the Federal Reserve has signaled that they will not be as dovish as in the past, and they are inclined to have fewer rate cuts next year. I think this is a signal that the market will continue to price in less than two rate cuts, and if the data is strong enough, it may head towards zero rate cuts. If the Federal Reserve does not see inflation decline to a sufficient level, they are unwilling to continue cutting rates.