J.P. Morgan Asset Management expects the Federal Reserve to cut interest rates three times this year.

Morgan Stanley Asset Management's Global Chief Investment Officer for Fixed Income, Foreign Exchange, and Commodities, Kay Herr, stated: "The current market pricing for the magnitude of the Fed's rate cuts this year is reasonable." The market is expecting a rate cut of about 25 basis points in September and a cumulative cut of about 70 basis points by the end of the year. She said in an interview on Friday, "The market has already started pricing in expectations of nearly three rate cuts, and this level of expectation feels reasonable."