Nomura Securities: Wall Street has been immersed in a 'rate-cut arms race'

On September 11, Steven Ricchiuto, chief economist of Mizuho Securities United States, said that he has supported the Fed to cut interest rates by 25 basis points for some time, adding that Wall Street has been immersed in this “arms race for interest rate cuts”, which is “counterproductive.” He believes that the United States economy is healthy, adding that the Fed should start discussing what the neutral level is.