ChainCatcher news, Peter Cardillo, chief market economist at Spartan Capital Securities, stated that he originally expected the Federal Reserve to gradually cut interest rates by 25 basis points, but the Fed's actions have been "much more generous" than he anticipated, especially as they have already hinted at a possible additional cut of 50 basis points before the end of the year.Cardillo believes that the Fed's move is clearly dovish, mainly due to concerns about a weak labor market. Although the news initially prompted a positive reaction in the U.S. stock market, Cardillo pointed out that market sentiment may change in the coming days, and investors might start to worry about the economic outlook.