Citi expert warns of catastrophe if FED is too slow with rate cuts

The September Federal Open Market Committee (FOMC) has become a hot topic among investors, with many believing the FED will finally begin lowering interest rates.There have been numerous different opinions on just how large the cuts ought to be, and one prominent expert – Veronica Clark of Citigroup (NYSE: C) – not only believes that 50 basis point (BPS) reduction is merited but also that America’s Central Bank is already behind the curve.The Citigroup economist, however, acknowledged that a 25 BPS decrease ...