Legendary Wall Street predictor makes bold claim about future of the American economy | News World

By James Cirrone For Dailymail.Com

A financial author and stock market analyst now says the Federal Reserve will be forced to initiate an emergency rate cut ahead of its next meeting in September to tamp down on the widespread selloff of equities in the last several days.

Robert Prechter, the founder and president of Elliott Wave International, joined Neil Cavuto on Fox Business Monday evening and said the Fed missed a huge opportunity at its meeting last week to get ahead of the market calamity that continues to unfold.

‘I think there’s gonna be a surprise rate cut before the September meeting because I think rates have started falling faster,’ he said.

The last time the Fed made emergency rate cuts came…

Source www.dailymail.co.uk