PANews reported on November 20 that, according to Jinshi Market Research, Morgan Stanley analyst Michael Gapen stated that strong employment has reduced the risk of rising unemployment, and he no longer expects the Federal Reserve to cut interest rates in December. He now anticipates three rate cuts in January, April, and June of next year, thus maintaining the final interest rate expectation at 3-3.25%.PANews reported on November 20 that, according to Jinshi Market Research, Morgan Stanley analyst Michael Gapen stated that strong employment has reduced the risk of rising unemployment, and he no longer expects the Federal Reserve to cut interest rates in December. He now anticipates three rate cuts in January, April, and June of next year, thus maintaining the final interest rate expectation at 3-3.25%.