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A financial expert and market analyst predicts that the Federal Reserve will be compelled to implement an emergency rate cut before its scheduled September meeting to mitigate the recent significant sell-off in equities. Robert Prechter, founder and president of Elliott Wave International, conveyed his concerns during an interview with Neil Cavuto on Fox Business, suggesting that the Federal Reserve missed a crucial opportunity at its previous meeting to address the ongoing market turmoil.
Prechter expressed his belief that an emergency rate cut is imminent due to the rapid decline in rates. The last time the Fed made such a move was during the early stages of the COVID-19 pandemic. However, many experts argue that another emergency cut could signal that the US economy is in dire straits, potentially exacerbating market anxieties.
In January, Prechter had warned that excessive optimism in the market posed a significant risk. He now asserts that this optimism has become deeply entrenched and that the world is witnessing the most inflated market in history.
Following the release of the July jobs report, which revealed a rise in unemployment to levels not seen since October 2021, global markets experienced a sharp downturn amid concerns that the US economy is faltering.
On Monday, the stock market continued to plummet, with the Nikkei 225 index in Tokyo, the world’s third-largest stock exchange, suffering its worst single-day decline in nearly four decades, plummeting by 12 percent. The S&P 500 dropped 3 percent, marking its most significant decline in nearly two years. The Dow Jones fell by 1,033 points, or 2.6 percent, while the Nasdaq composite slid 3.4 percent.
Bloomberg estimates that approximately $6.4 trillion has been erased from the value of global stock markets over the past three weeks.
According to Prechter, much of this could have been averted if the Federal Reserve had chosen to cut rates at its last meeting. He criticized the Fed for missing a crucial opportunity to lower the Fed funds rate by a quarter point.
Economists at Goldman Sachs have now increased the probability of the US entering a recession within the next year from 15 percent to 25 percent, while analysts at JP Morgan estimate a 50 percent likelihood.
Since March 2022, the Federal Reserve has been raising interest rates to combat inflation, but one prominent economist believes the agency is too focused on this single goal.
The chief economic advisor at Allianz, Mohamed El-Erian, has blamed the Fed for the current state of the market, arguing that the rate hikes are taking a heavy toll on the economy. He expressed concern that the US may lose its economic exceptionalism due to a policy mistake.
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Even if the Fed waits until September to cut rates, most industry observers anticipate a rate cut is inevitable.
JP Morgan analysts have written a memo suggesting that the Fed appears to be significantly behind the curve and predicts a 50 basis point cut at the September meeting, followed by another 50 basis point cut in November.
Investors now expect that other major central banks will follow the Fed’s lead and aggressively ease rates, with the European Central Bank anticipated to cut rates by 67 basis points by Christmas.
The anticipated rate cuts by the Federal Reserve could have a positive impact on gold prices. This is because when interest rates are lowered, interest-bearing investments like bonds become less attractive, and investors often turn to gold as an alternative investment. Additionally, gold prices have historically risen when the Federal Reserve has cut interest rates.
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Diddy Charges and Arrest Beg the Question: What Other Elite Hollywood Celebs Knew About ‘Freak Offs?’
by Outkick
Puff Daddy is finally facing the mother of all karma for his alleged sick and twisted behavior spanning a decade or more. At yesterday’s press conference, reporters asked the attorney why it took so long to get these charges and that’s a great question. Fs Sot 3 (5) Here’s another…
Is This Kamala’s Biggest Lie About Her Family Yet?
by Natural News
U.S. Vice President Kamala Harris has falsely claimed that her grandfather was a freedom fighter in the Indian independence movement. The Democratic presidential nominee shared on Sept. 8 a picture of herself in India with her maternal grandfather P.V. Gopalan. She described him as a “retired civil servant who had…
What Did John Brennan Know?
by Frontpage Mag
In the wake of the second attempt on his life, Donald Trump flagged the “highly inflammatory language” Democrats have deployed against him, such as the charges of Joe Biden and Kamala Harris that the former president is a threat to democracy and so forth. When it comes to inflammatory language…
Are the White House and Pentagon Controlled by a Shadowy Few?
by Zero Hedge
As we approach the 2024 election, many Americans are disillusioned by the notion that their votes truly matter. Why? Because there’s a growing belief that a hidden force – often referred to as the Deep or Administrative State – wields disproportionate power behind the scenes. Despite our democratic process, can…
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Do We Have Another Instance Where the Secret Service Can’t Get Its Story Right?
by Townhall
Former President Donald Trump was nearly assassinated on September 15 while golfing in West Palm Beach. The former president’s trip to Trump International Golf Club was not planned, but would-be assassin Ryan Wesley Routh was waiting on the course, hiding in a shrubbery for 12 hours with a rifle and…
City Demands Pastor Take Down ‘Jesus’ Sign in Front of Church, Gets Epic Response From Him During Sermon
by Western Journal
Freedom-loving Americans cannot help but bemoan the mounting authoritarianism of both federal and state officials. As we discovered during the COVID era, however, sometimes Satan infects even our neighbors with the spirit of petty tyranny. In a clip posted Tuesday to the social media platform X, Pastor Mark Driscoll of…
Leftists Deserve the J6 Treatment
by J.B. Shurk
Remember: illegally appointed special counsel Jack Smith is prosecuting President Trump in D.C. for exercising his constitutional right to free speech after the 2020 election. Smith’s case essentially claims that Trump was not entitled to question the legitimacy of the mail-in ballot–tainted election and that his refusal to concede to Joe Biden…
Professor Teaches Students About Evil by Having Them Read Writings of Hitler’s Chief Propagandist
by Red State
A professor at the University of Austin ingeniously teaches students about “good and evil” by having them read the writings of some of the 20th century’s most evil people, including Adolf Hitler’s chief propagandist, Joseph Goebbels. Spoiler: I think it’s absolutely brilliant. Professor Marietta, who says Goebbels used “emotional appeal”…
Bombshell Lab Findings: Covid Jab Spike Proteins Likely Accelerate Cancer, Neurological Disorders, Dementia, Crohn’s, Lyme and More
by S.D. Wells, Natural News
(Natural News)—Back in February, U.S. Republican Senator Ron Johnson from Wisconsin held a roundtable discussion titled ‘Federal Health Agencies and the COVID Cartel: What Are They Hiding?’. In attendance at that forum was an internal medicine specialist and medical doctor named Sabine Hazan, who conducts and supervises clinical trials for cutting-edge…
Fan in MAGA Hat Denied Entry at Arizona Cardinals’ Home Stadium Unless She Threw It Away, Prompting Apology From Team
by The Blaze
The Arizona Cardinals organization has issued an apology after a fan was initially denied entry to the team’s home opener because she was wearing a Make America Great Again hat in support of the presidential candidacy of former President Donald Trump. On Sunday, thousands of football fans flocked to State…
New Report: State Department Funded Fact-Checkers to Censor ‘Lawful Speech’
by Michael Nevradakis Ph.D., The Defender
(The Defender)—The U.S. Department of State-funded domestic and international fact-checking entities that censored American independent media outlets and social media users who questioned the Biden administration’s COVID-19 and other policies, according to a congressional report. The report by the U.S. House of Representatives Committee on Small Business stated: “The Federal…
Springfield City Manager Admitted in March He’d ‘Heard’ About Haitian Migrants Eating ‘Domesticated Animals’
by The Post Millennial
A video from the Springfield City Commission meeting in March has resurfaced on Twitter, showing the Springfield, Ohio, City Manager Bryan Heck admitting that he had heard stories about Haitian immigrants to the town consuming “domesticated animals.” A resident of Springfield spoke to at the meeting and the City Manager,…
Did the Government Shield Diddy Like Epstein?
by Daily Wire
Some of the most revealing moments from the sordid saga of Jeffrey Epstein came when government officials were asked direct questions, then ducked them without any real explanation. Case in point: Five years ago, the Labor Secretary at the time, Alex Acosta, was speaking to reporters about his handling of…
Saudi Arabia Won’t Recognize Israel Without Palestinian State, Says Crown Prince
by End Times Headlines
Saudi Crown Prince Mohammed bin Salman on Wednesday said the kingdom would not recognize Israel without a Palestinian state and strongly condemned the “crimes of the Israeli occupation” against the Palestinian people. “The kingdom will not stop its tireless work towards the establishment of an independent Palestinian state with East…
Retired Border Patrol Chief Accuses Joe Biden, Kamala Harris of Attempting to Hide Mass Release of Migrants Into U.S.
by Breitbart
Retired Border Patrol Chief Aaron Heitke, who left his position at the Department of Homeland Security (DHS) in early 2023, says President Joe Biden and Vice President Kamala Harris’s administration has worked to hide the mass release of migrants into American communities. During a House Homeland Security Committee hearing on…
Less Than 50 Days Until Life in America Changes Forever, and Our Nation Is Primed for Massive Civil Unrest
by Michael Snyder
(The Economic Collapse Blog)—Years of extremely inflammatory rhetoric from the mainstream media and from many of our leaders have brought us to the brink of a societal nightmare. The numbers that I am about to share with you are horrifying, but it is so important for us to understand what…