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In the midst of global market turmoil, the US Federal Reserve has convened an emergency meeting to reassess interest rates. It is anticipated that the meeting will lead to a 50 basis point decrease in the rate.In the past seven days, the Japanese yen has experienced a 13% decline in value, Korea and Taiwan have experienced a 10% decline, and <a href="https://optimisus.com/news/crypto-news/over-1-billion-in-long-positions-liquidated-as-bitcoin-plunges-toward-49000/" rel="noopener noreferrer nofollow">Bitcoin prices have fallen by 21%</a>. S&amp;P futures have experienced a 4% decline.As a result of the alarming trajectory of the situation, the Federal Reserve is expected to reduce interest rates by 0.5%. The reversal of the cash and carry trade in Japan is the cause of the market panic, which has resulted in financial pandemonium.The severity of the situation is underscored by the fact that there is a 100% probability of a rate decrease in September. According to market analysts, a decrease in interest rates could offer some relief.In order to prevent additional economic instability, the Federal Reserve must act promptly. Nevertheless, economist Peter Schiff is of the opinion that the United States economy could experience a recession if interest rates are reduced.

U.S Fed Calls For Emergency Meeting Amid Global Market Crash

Optimisus

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