Fed Must Cut Rates Now to Avoid a Hard Landing, Says deVere CEO
CryptoNewsTerminal Staff05 Aug, 2024
Fed Must Cut Rates Now to Avoid a Hard Landing, Says deVere CEO
The US Federal Reserve (Fed) should cut interest rates by 25 basis points now to avoid a US recession, according to a report by deVere Group CEO Nigel Green. “The Fed must act now or risk a hard landing,” Green said. “Last week’s shock July US unemployment figures – which came in well above market expectations – were the latest in a series of data points that have sparked a sell-off across stocks, futures, the dollar, and Treasury yields.” Green added that if the Fed waits until its September FOMC meeting before cutting rates, it would be "guilty of dereliction of duty."
