deVere Group CEO: The Federal Reserve must take bold action to address the impending economic storm

ChainCatcher news, Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisory and asset management firms, warned that the Federal Reserve must take bold action and implement a massive 50 basis point rate cut in September to address the impending economic storm.

Nigel Green stated, "Current interest rates are at their highest in over 20 years, and there is no room for hesitation. A 25 basis point cut may signal a change in direction, but it is not the aggressive action needed to avoid a potentially disastrous hard landing. The case for a bold 50 basis point cut in September is clear. Such a move would strongly indicate that the Federal Reserve is serious about steering the U.S. economy away from the brink of recession. Following that, cutting rates by another 25 basis points in November and December would not only address current concerns but also lay the groundwork for sustainable economic growth." (Jin Shi)