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

Wallstreetcn
2024.08.09 17:40

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. "Involving politicians is a foolish game... the end result is higher inflation and a weaker economy." The day before Summers made these remarks, Republican presidential candidate Trump stated that he believed the president should have some "say" in Federal Reserve policy making

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