According to Odaily, Jupiter Asset Management's Fixed Income Investment Manager, Harry Richards, has suggested that the US Federal Reserve may follow the European Central Bank's lead and cut interest rates in the coming quarters. This prediction comes in light of the weakening US labor market, increasingly evident consumer fatigue, and further easing of housing inflation.

Richards warned that if the Federal Reserve continues to maintain higher interest rates while other developed countries' central banks are easing their monetary policies, it could lead to serious consequences. The US economy's current state, with a softening labor market and weakening consumer strength, may necessitate such a move by the Federal Reserve.

The European Central Bank's decision to cut interest rates has set a precedent that the US Federal Reserve may need to follow to maintain economic stability. The potential consequences of maintaining higher interest rates while other economies are easing could be severe, and this warning from Richards underscores the importance of closely monitoring these economic indicators.