On August 5, Nigel Green of deVere Group said in a report that it would be a dereliction of duty if the Federal Reserve did not cut interest rates as soon as possible and waited until the next meeting in September.
An unexpected rise in the U.S. unemployment rate last Friday was behind the downward pressure on stock index futures, the dollar and U.S. Treasury yields. Green called for a 25 basis point rate cut now.
Other analysts have suggested an emergency rate cut of up to 75 basis points to avoid a recession. The Fed "needs to act now... otherwise there could be a risk of a hard landing with far-reaching consequences." (Jinshi)
