ChainCatcher reports that Steve Englander, Global Head of G10 FX Research and North America Macro Strategy at Standard Chartered Bank in New York, stated that recent US economic data does not provide a compelling reason for a 50 basis point rate cut at the upcoming FOMC meeting. A 50 basis point cut, if a wrong decision, would be worse than a 25 basis point cut, if wrong. The rationale for a 25 basis point cut is that upcoming inflation data does not support a rapid convergence of inflation towards the 2% target. At the same time, the recent rise in unemployment also reveals a concerning deterioration in the economy. (JinShi)