Is an emergency cut necessary?
"If characterizing the current state of market accurately, that is "extremely volitle". The markets sharply declined amid fear of a economic recession and concerns that the Fed is being too slow-footed in easing monetary policy when inflation rate has decelerated. Also the sell-off was caused by the carry trade of Yen when BOJ started to hike rates.."
"The Fed on July 31 voted to hold its key interest rate between 5.25%-5.5%, a decision that quickly came under criticism when a report the next day on weekly jobless claims showed a spike and a manufacturing gauge put the sector further into contraction.."
"Some economists argued that the Fed should implement an emergency cut that is vital for the economy, moreover, the policymakers should cut rates quickly and aggressively to respond the negative economic situation. ."
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