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joining us now is Jeremy seagull professor emeritus of Finance at University of Pennsylvaniaamp;#39;s Wharton School of Business Chief Economist at Wisdom Tree uh and um Jeremy I I would I hate you probably arenamp;#39;t happy to say I told you so either given uh you know what weamp;#39;re witnessing uh but you thought the FED uh was staying at once again for the second time staying at the party too long and too restrictive uh yeah ABS absolutely and and you know this may surprise people Iamp;#39;m calling for 75 basis point emergency cut in the FED funds rate with another 75 basis point cut indicated for next month at the September meeting um and and thatamp;#39;s minimum the FED funds rate right now should be somewhere between you know three and a half and 4% let me give you very simple logic of my position here uh at the June meeting the FED has said that the long run fed funds rate when inflation docHubed 2% and unemployment has come up to 4.2% should be 2.8 thatamp;#39;s the
