Oaktree Capital Co-Founder: U.S. Interest Rates Won't Fall Below 3% After Fed Rate Cut

U.S. interest rates will be in the 3% to 4% range after the Fed cuts rates, Oaktree Capital's Howard Marks said. Marks, co-chairman and co-founder of Oaktree Capital, told a conference in Melbourne on Thursday that the Federal Reserve will cut interest rates to the 3 percent line, from 5.25 percent and 5.5 percent in times of emergency. He also emphasized that he thinks rates will stay at the 3% line and will not go back to zero, 0.5% or 1%.