According to ChainCatcher, Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisors and asset management companies, warned that the Federal Reserve must take bold action and make an ultra-substantial 50 basis point interest rate cut in September to cope with the coming economic storm.
Nigel Green said, "With interest rates at their highest level in more than 20 years, there is no room for hesitation. A 25 basis point rate cut may mark a change in direction, but it is not the radical action needed to avoid a potentially catastrophic hard landing. The reason for a bold 50 basis point rate cut in September is clear. Such a move would strongly demonstrate that the Fed is serious about guiding the US economy away from the brink of recession. With subsequent 25 basis point rate cuts in November and December, the Fed will not only address immediate concerns, but also lay the foundation for sustainable economic growth." (Jinshi)