Economist Warns of Tsunami in Commercial Real Estate, Urges Fed to Act Fast to Cut Rates

• Commercial real estate crisis could force Fed to cut rates as early as May (first half of year), according to economist Komal Sri-Kumar • Compared it to a "tsunami" coming that could prompt distress at regional banks • Argued Fed should cut rates sooner like in 2008 crisis to avoid worst of pain
• Challenged view that banking issues over past year are just "idiosyncratic"
• Cited China's Evergrande fallout as reason commercial real estate issue is systemic