BlackRock Inc. CEO Larry Fink says rates traders are making “crazy” bets on deep Fed rate cuts despite signs of a strong economy.

Chief Executive Officer Larry Fink said the market is pricing too many interest-rate cuts from the Federal Reserve given the US economy continues to grow.“I don’t see any landing,” Fink told Bloomberg Television’s Francine Lacqua in an interview Tuesday on the sidelines of the Berlin Global Dialogue 2024 conference.

Money markets imply a one-in-three chance the Fed will deliver another half-point cut in November, and price a total of about 190 basis points of easing by the end of next year. But Fink said it’s hard for him to see that materializing, as most government policies at the moment are more inflationary than deflationary.