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economist Joseph StiglitzCNBC
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78% Informative
Nobel Prize -winning economist Joseph Stiglitz believes the Federal Reserve should deliver a half -point interest rate cut at its forthcoming meeting.
His comments come ahead of the release of U.S. jobs data, with investors closely monitoring the August nonfarm payrolls count for clues on the size of an expected rate cut this month .
The Fed 's benchmark borrowing rate is currently targeted in a range between 5.25-5.5% .
"The 50 [basis point] cut might send a wrong message to markets and the economy. It might send a message of urgency, and, you know, that could be a self-fulfilling prophecy," he continued. "So, it would be very dangerous if they went there without a specific reason. Unless you have an event, something that troubles markets, there is no reason for panic.".
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89
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