"[Former Dallas Fed President: Market Expectations for Fed Rate Hikes Are Too Aggressive] BlockBeats News, September 24 – Former Dallas Federal Reserve President Robert Kaplan stated that the bond market has been overly aggressive in pricing in Federal Reserve rate hike expectations. Kaplan noted that the Fed's rate hike in September was the right decision, and another hike in December could also be a reasonable choice, but action should likely be paused in October. He remarked that inflation is 'concerning' whether viewed on a monthly or year-over-year basis. When annualized, monthly inflation data is even approaching 3%. Kaplan pointed out that the Fed's dot plot indicates one more rate hike this year, but financial markets have already exceeded this expectation. As of Thursday morning, market pricing suggests at least three more rate hikes by June next year. 'There is no doubt that AI infrastructure and application sectors are booming. Additionally, for obvious reasons, defense spending is also very robust,' Kaplan said. 'However, if you look at the automotive industry, housing-related businesses, and companies targeting low- and middle-income consumers, you'll find that while their operations are not terrible, they are overall quite weak or sluggish. Therefore, in my view, those areas of the economy that are heavily influenced by the federal funds rate are not currently overheating.'" (Jin10)