BlockBeats news, on August 15, according to Bloomberg, economist Marc Sumerlin, who is seen as a potential candidate for Federal Reserve Chair, stated that policymakers should significantly cut interest rates next month, but warned that if long-term U.S. Treasury yields rise, they will have to stop the rate cuts. Sumerlin is an economist at management consulting firm Evenflow Macro.
Marc Sumerlin stated that a 4.3% federal funds rate is too high, indicating there is room for a 50 basis point rate cut. Supported by the yield curve inversion, he advocates for a 50 basis point cut.