A string of weak economic data releases and the return of trade tensions with China and Mexico have further diminished the economic outlook lately, which is encouraging traders and investors to price in rate cuts by the Federal Reserve to support the economy. Market participants closely monitor the future direction of US monetary policy, as it is one of the main drivers of asset classes including equities, bonds and forex. Nevertheless, several traders and investors seem to be overestimating the likelihood of multiple rate cuts this year. It is crucial for market participants to tame