deVere Group: The Federal Reserve should cut interest rates urgently now.

Nigel Green of deVere Group said in a report that it would be a dereliction of duty if the Federal Reserve does not cut interest rates soon and waits until the next meeting in September. The unexpected rise in the US unemployment rate last Friday was the reason behind the pressure on stock index futures, the US dollar, and US bond yields. Green called for an immediate 25 basis point rate cut, while other analysts suggested an emergency rate cut of up to 75 basis points to avoid an economic recession. The Federal Reserve "needs to take action now... or there could be a significant risk of a hard landing." (Jin10)