BlackRock global chief investment strategist says that rate cut expectations are frothy

I posted yesterday on the view from BlackRock on the 2024 Federal Open Market Committee (FOMC):

• BlackRock's CIO Rieder says the Fed Funds rate is too restrictive today, sees mid-24 cut

Rieder's call in that interview was backed up by the firm's global chief investment strategist speaking on Tuesday, US time:

• don't expect the Fed to aggressively cut rates in 2024
• “Market pricing for how early the first cut is, as well as how many cuts there will be next year, is a bit overdone in our view,”
• referred to indicators of market expectations of a rate cut in March and five rate cuts in 2024 ... “That is really aggressive. Something would have to go seriously wrong for that to come through,”
• BlackRock expects at least one rate cut in H2 of 2024