[Citi traders bet the Fed will make three aggressive 50 basis point rate cuts] Golden Finance reported that Citi traders are betting that the Federal Reserve will make three 50 basis point rate cuts this year, a bet that exceeds the expectations of the market and the bank's economists. Citi's short-term interest rate trading department said that if the Fed sees weakness in the labor market, it will actively ease policy. Currently, swaps suggest that the probability of a 50 basis point rate cut this month is about one-third. Akshay Singal, global head of short-term interest rate trading at Citibank, said: "The Fed will not take small steps and run fast. They did not show any hesitation in raising interest rates in 2022, nor will they show any hesitation in cutting interest rates. If today's employment data is disappointing, the Fed is likely to cut interest rates by 50 basis points, not only in September, but also in November and December." "Powell made it clear at Jackson Hole that the Fed will focus on the labor market."