Ed Yardeni, a Wall Street strategist and president of Yardeni Research, said the Federal Reserve is widely expected to cut interest rates by 25 basis points this week, but that could be a bad idea. While the market generally expects a smaller rate cut thereafter, Yardeni said recent strong economic data, combined with growing GDP and a solid labor market, as well as record highs for stocks, gold and bitcoin, suggest that continuing to cut rates may not be the best decision. He noted that inflation remained above the Fed's 2 per cent target, and while the central bank hinted that it might pause its rate-cutting cycle in January, Mr. Yardeni said the move might come too late.