Analysts: The Federal Reserve should urgently cut interest rates now
2024-08-05 12:40:18
Nigel Green of the deVere Group said in a note that the Fed would be remiss if it did not cut rates soon and waited until its next meeting in September. Friday's unexpected rise in US unemployment was behind the downward pressure on stock index futures, dollar and Treasury yields. Green called for a 25 basis point cut now, while other analysts recommended an emergency rate cut of up to 75 basis points to avoid a recession. The Fed "needs to act now... or risk a far-reaching hard landing".
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