deVere Group CEO: Fed must take bold action to weather coming economic storms

Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisors and asset managers, has warned that the Federal Reserve must take bold action and make an extraordinarily large 50 basis point rate cut in September to weather the coming economic storm.
Nigel Green says that interest rates are currently at 20+ year highs and there is no room for hesitation. a 25 basis point cut may signal a change in direction, but it is not the radical action needed to avoid a potentially catastrophic hard landing. the case for a bold 50 basis point cut in September is clear. Such a move would have strongly signaled that the Fed was serious about steering the U.S. economy away from the brink of recession. Subsequent rate cuts of 25 basis points in November and December would not only address immediate concerns, but also lay the foundation for sustainable economic growth.