Deutsche Bank: US Treasury Secretary Bessemer's interest rate cut viewpoint contradicts the Federal Reserve's model.

The interest rate strategist at Deutsche Bank stated that the US Treasury Secretary Janet Yellen's opinion that the appropriate level of Fed interest rates is more than one percentage point above what the model shows is incorrect. Yellen previously said that "whatever model" implies rates "should be 150 to 175 basis points lower." However, subsequent searches for models that support this statement have been unsuccessful, and the Deutsche Bank strategy team, led by Matthew Raskin, has recently joined this verification effort.