Nobel Prize winner Stigley criticizes the Federal Reserve: The interest rate should be cut by 50 basis points in September

"I have always criticized the Fed for going too far, too fast," Nobel Prize-winning economist Joseph Stiglitz said at a forum in Cernobbio, Italy, on Friday. He said the Fed should cut interest rates by 50 basis points at its upcoming meeting, accusing the Fed of "going too far, too fast" in tightening monetary policy and exacerbating inflation problems. His remarks came before the release of non-farm payrolls on Friday, with investors closely watching changes in August's non-farm payrolls for clues on how far the Fed will cut interest rates this month. Stiglitz, who won the Nobel Prize for his market analysis in 2001, joined JPMorgan Chase's chief U.S. economist in calling for a sharp rate cut this month. (Jinshi)