State Street Global Advisors is betting that the Federal Reserve will cut interest rates by 50 basis points as early as June. The agency believes that the Fed will cut interest rates before the US presidential election in November. In addition, the company expects the Fed to cut interest rates by a cumulative 150 basis points by the end of the year, which is 2.5 times the current market pricing. State Street Global insists that the U.S. economy is not as strong as it seems, with indicators such as credit card defaults and the cost of credit for small businesses pointing to a possible economic downturn later this year. (Golden Ten)