Top three officials of the Federal Reserve: The Fed should make a "big move" now, and I believe they will do so

Former New York Fed Chairman Dudley said on Monday that the Fed faces a key decision at this week's meeting: whether to cut rates by 25 basis points or to cut rates by 50 basis points directly to curb an economic recession. He personally pointed out at the Bretton Woods Committee meeting in Singapore last Friday that the logic of a 50 basis point rate cut is more convincing. Dudley also believes that Fed Chairman Powell supports taking aggressive action. Powell specifically mentioned at the Jackson Hole meeting last month that further softening in the labor market is "unwelcome," and now the employment market does seem to be further deteriorating. In addition, monetary policy is in a tightening state when it should be neutral or loose. By cutting rates more significantly, the Fed can more easily align the dot plot projections with market expectations, rather than throwing out an economically unsupported and market-unfriendly surprise