A television broadcasts the Federal Reserve's interest rate cut on the floor of the New York Stock Exchange on Sept. 18, 2024.
Roche said the figures made the Fed's "jumbo interest rate cut look silly, populist and panicky."
1 is that [it gives the impression that] the economy is more fragile than it is ... and the economy is fine, thank you very much, and doesn't need jumbo rate cuts," he told CNBC's "Squawk Box Europe."
And headline and core inflation will stay above the Fed target of 2%, so the case for aggressive rate cuts [is not there]," he said.
"Yes there is a case for modest rate cuts, there is a case for 25 to 50 basis point cuts by January next year, but a case for 50 basis point cut at the next meeting just does not exist," Parker said.
Persons:
Michael Nagle, David Roche, Roche, CNBC's, " Roche, Bob Parker, Parker, Dave Pierce
Organizations:
New York Stock Exchange, Bloomberg, Getty, Federal Reserve, CNBC, Quantum, Federal, Market, International Capital Markets Association, Fed, Global, Capital, Dow Jones Industrial
Locations:
Israel, U.S
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