Analyst: The Federal Reserve should urgently cut interest rates now
ChainCatcher news, according to Jinshi reports, Nigel Green of deVere Group stated in a report that if the Federal Reserve does not cut interest rates soon, but waits until the next meeting in September to do so, it would be a dereliction of duty. Last Friday, the unexpected rise in the U.S. unemployment rate was the underlying reason putting pressure on stock index futures, the dollar, and U.S. Treasury yields.
Green called for an immediate 25 basis point rate cut, while other analysts suggested an emergency cut of up to 75 basis points to avoid a recession. The Federal Reserve "needs to take action now… otherwise, there could be a risk of a far-reaching hard landing."
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