US Fed under pressure to order emergency cut

WASHINGTON — The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision.

The futures markets, which as recently as last week expected a single quarter percentage-point cut at the US central bank’s next rate decision in September, now see a half-point cut as much more likely, according to data from CME Group.