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Morgan Asset Management Kelly: The Fed should cut interest rates by 25 basis points to prevent market panic.
According to Jinse Finance, David Kelly, Global Chief Strategist at JPMorgan Asset Management, said that the Federal Reserve should cut interest rates by 25 basis points on Wednesday, instead of the 50 basis points some market participants have called for, in order to prevent investors from panicking about the US economic situation. He said it was a mistake for the Fed to maintain high interest rates for so long. 'But when they lower interest rates, they need to be moderate because they don't want people to think they're panicking,' added Kelly.