Moody's Analytics: The Fed needs to normalize interest rates quickly, we hope they cut rates by 50 basis points

Odaily Odaily News: Mark Zandi, chief economist at Moody's Analytics, said: "I hope they (the Federal Reserve) cut interest rates by 50 basis points, but I doubt they will cut interest rates by 25 basis points. I hope it is 50 because I think interest rates are too high. They have achieved full employment and inflation has returned to the target level, which is inconsistent with the federal funds rate target range of around 5.5%. So I think they need to normalize interest rates quickly and have a lot of room to do so." (Jinshi)