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Sahm rule creator doesn't think that the Fed needs an emergency rate cut
The U.S. Federal Reserve does not need to make an emergency rate cut, despite recent weaker-than-expected economic data, according to Claudia Sahm, chief economist at New Century Advisors. Speaking to CNBC “Street Signs Asia,” Sahm said “we don’t need an emergency cut, from what we know right now, I don’t think that there’s everything that will make that necessary.” She said, however, there is a good case for a 50-basis-point cut, adding that the Fed needs to “back off” its restrictive monetary policy. While the Fed is intentionally putting downward pressure on the U.S. economy using interest rates, ...