deVere Group CEO: The Fed must take bold action to respond to the coming economic storm
ChainCatcher news, Nigel Green, the 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 make a super-sized 50 basis point rate cut in September to address the impending economic storm. Nigel Green stated, "Interest rates are currently at their highest level in over 20 years, and there is no room for hesitation. A 25 basis point rate cut may signal a change in direction, but it is not the radical action needed to avoid a potentially disastrous hard landing. The rationale for a bold 50 basis point rate cut in September is clear. Such a move would strongly signal the Fed's determination to guide the US economy away from the brink of recession. This should be followed by further 25 basis point cuts in November and December, allowing the Fed not only to address immediate concerns but also lay the foundations for sustainable economic growth."
