Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP
Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP
Richard Harris
Opinion

Opinion

The View by Richard Harris

Why the Fed’s latest rate cut is an overreaction and sends the wrong signal to markets

  • The emergency rate cut, its first since the 2008 global financial crisis, reinforces fears that the world economy is in trouble, and may yet send record low Treasury yields into negative territory. The Fed is misusing its best economic tool

Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP
Federal Reserve chair Jerome Powell announces a half a percentage point rate cut during a speech on March 3 in Washington, DC. Photo: Getty Images / AFP
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.