According to Golden Finance, Steve Englander, Global G10 FX Research and North American Macro Strategy Head at Standard Chartered Bank's New York branch, said that recent US economic data does not provide a convincing reason for a 50-basis-point rate cut at the upcoming FOMC meeting. A 50-basis-point cut with a wrong decision could be worse than a 25-basis-point cut with a wrong decision. The reason for a 25-basis-point cut is that the upcoming inflation data does not support a rapid approach to the 2% target. At the same time, the recent rise in unemployment also shows a worrying deterioration in the economy.