Fed Chairman candidate Summers: Supports a 50 basis point interest rate cut by the Fed next month.

BlockBeats news, on August 15, reported by Bloomberg, economist Marc Sumerlin, who is seen as a potential candidate for the Fed chair, stated that policymakers should significantly cut interest rates next month, but at the same time warned that if long-term U.S. Treasury yields rise, they would have to stop cutting rates. Sumerlin is an economist at management consulting firm Evenflow Macro. Marc Sumerlin stated that a 4.3% federal funds rate is too high and there is room for a 50 basis point cut. He supports a 50 basis point cut due to the yield curve inversion.