The U.S. Federal Reserve can afford to make a jumbo 50 basis point rate cut next week without spooking markets, an analyst has suggested, as opinion on the central bank's forthcoming meeting remains hotly divided.
"I would not be surprised if they jumped all the way to 50 basis points," Yoshikami told CNBC's "Squawk Box Europe."
"That would be considered, on one hand, a very positive sign the Fed is doing what is needed to support jobs growth," he said.
"I think the Fed at this point is ready to get out ahead of this."
His comment follow similar remarks Friday from Nobel Prize-winning economist Joseph Stiglitz, who said the Fed should deliver a half-point interest rate cut at its next meeting, contending that it went "too far, too fast" with its previous policy tightening.
Persons:
Michael Yoshikami, Yoshikami, CNBC's, Joseph Stiglitz
Organizations:
U.S . Federal, Destination Wealth Management