[Pictet Wealth Management: The Market May Be Overreacting to Fed Rate Hike Expectations] Jin10 Data, July 28 – Pictet Wealth Management pointed out that the market is currently pricing the probability of a Federal Reserve rate hike excessively high. 'While we cannot completely rule out the risk of a surprise rate hike, the current market pricing seems overly elevated,' Senior U.S. Economist Xiao Cui stated in a report. The latest U.S. inflation data and comments from Federal Reserve officials have reinforced expectations that the Fed will keep interest rates unchanged at 3.5%-3.75% this week. However, she noted that officials continue to view inflation as the primary policy risk, leaving the door open for tightening policy as early as September. Cui also believes that Logan and Harker within the committee may cast dissenting votes in favor of a 25 basis point rate hike, and Kashkari may also join this camp.