Billionaire investor Ray Dario does not expect the Federal Reserve to cut its base rate aggressively after cutting interest rates by 0.5 percentage points last month. "The economy is in a relatively good balance right now," he said. The Fed cut interest rates last month for the first time in four years, but a strong jobs report has since opened up space for policymakers to slow down. Mr. Dario also touched on the policies of US presidential candidates Donald Trump and Harris and expressed concern about the bond market. Mr. Dario pointed to an unusual state of supply and demand in the US debt market, which is a large proportion of institutional investors' portfolios and has a sense of overweight. Geopolitical uncertainty is also one of the problems facing the U.S. Treasury market.