US Economists' group criticises Fed rate cut

The Federal Reserves recent aggressive rate cut of half a point surprised most. It did nothing to improve sentiment in the markets with the dollar falling on the news as the US economy appeared to be in worse shape than was thought. Now the Shadow Open Market Committee have criticised the reduction calling it a "departure" from the Fed's otherwise sound decision making.

A prominent group of U.S. economists on Monday criticised the Federal Reserve's recent half-percentage point cut in interest