<p>Former US Treasury Secretary Summers warned against allowing the president to intervene in monetary policy making, as it would ultimately only harm the economy over time. &#34;Involving politicians is a foolish game... the end result is higher inflation and a weaker economy.&#34; The day before Summers made these remarks, Republican presidential candidate Trump stated that he believed the president should have some &#34;say&#34; in Federal Reserve policy making</p>

<p>Former US Treasury Secretary Summers warned against allowing the president to intervene in monetary policy-making, as it would harm the economy, leading to higher inflation and a weaker economy. Republican presidential candidate Trump stated that he believes the president should have some "speaking rights" in Federal Reserve policy-making</p>

Former US Treasury Secretary Summers opposes political interference in the Federal Reserve, expecting a 50 basis point rate cut in September