Economist Sumerlin confirms he's in the running for Fed chair, backs big interest rate cut
1. Marc Sumerlin supports aggressive rate cuts to boost the economy. 2. A 50 basis point cut is suggested without market disruption. 3. Sumerlin's views align with President Trump’s agenda for lower rates. 4. Current Fed chair Powell has maintained rates since December 2024. 5. Sumerlin emphasizes the importance of Fed independence amidst political pressure.