Nobel laureate Joseph Stiglitz urges a 0.5% Fed rate cut, criticizing aggressive hikes for worsening inflation.
Nobel Prize-winning economist Joseph Stiglitz has urged the Federal Reserve to implement a half-point interest rate cut in its upcoming meeting, criticizing the central bank for aggressive rate hikes that he believes have worsened inflation and economic instability. His comments coincide with impending U.S. jobs data, with market expectations leaning towards a potential 25-basis-point cut, though interest in a larger reduction has been rising.
September 06, 2024
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