Fed Chair Probable Marc Sumerlin Says Rate Cuts Would Need To Stop If 10-Year Treasury Yields Rise
Synopsis
In an interview with Bloomberg, Sumerlin pointed to housing as the weakest part of the economy right now.
Economist Marc Sumerlin, who is reportedly on President Donald Trump’s list of possible picks as the Federal Reserve Chair, warned that the central bank would need to stop cutting interest rates if the 10-year Treasury yields rose.
In an interview with Bloomberg, Sumerlin pointed to housing as the weakest part of the economy right now. If the Fed’s interest rate cuts result in a spike in 10-year Treasury yields, Sumerlin warned that mortgage rates would go up, as was seen in 2024, he stated.
Sumerlin added that this is the constraint that the Fed has to deal with right now as it charts its course on interest rates.
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