Forvis Mazars: No urgency for the Fed to cut rates by 50 basis points

George Lagarias, chief economist at Forvis Mazars, told CNBC on Thursday that while no one can guarantee the size of the Fed's rate cut at its upcoming meeting, he is "firmly" in the camp calling for a 25 basis point cut. "I don't think there's an urgency to cut by 50 basis points," Lagarias said. "A 50 basis point cut could send the wrong message to the market and the economy. And as we all know, a recession can be a self-fulfilling prophecy, so if they do that without a particular reason, it would be very dangerous. Unless something happens to unsettle the market, there's no need to cause panic." (Jinshi)