Analysts: The Federal Reserve should cut interest rates urgently now.
According to a report by PANews on August 5, Nigel Green of the deVere Group said that if the Federal Reserve does not cut interest rates soon and waits until the next meeting in September to do so, it would be a dereliction of duty. The unexpected rise in the US unemployment rate last Friday was the reason behind the pressure on stock index futures, the US dollar, and the decline in US bond yields. Green called for a 25-basis-point rate cut now, while other analysts suggested an emergency 75-basis-point rate cut to avoid an economic recession. The Federal Reserve "needs to act now... otherwise there could be a risk of a hard landing with far-reaching consequences."
