Federal Reserve Chair Nominee Samorlian: Supports Fed Cutting Rates by 50 Basis Points Next Month

BlockBeats News, August 15th, according to Bloomberg, economist Marc Sumerlin, seen as a potential Fed chair candidate, said policymakers should cut rates significantly next month, but also warned that if long-term U.S. bond yields rise, they will have to stop cutting rates. Sumerlin is an economist at the consulting firm Evenflow Macro.

Marc Sumerlin stated that the 4.3% federal funds rate is too high, with a 50 basis point rate cut room. Due to the inverted yield curve, he supports a 50 basis point rate cut.