Former U.S. Treasury Secretary Summers: The Fed's policy is "too loose" and inflation remains the primary issue.

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[Former U.S. Treasury Secretary Summers: Fed's policy is "too loose" and inflation remains the primary issue] Former U.S. Treasury Secretary Summers stated that the Fed's policy is leaning towards being "too loose" and emphasized that the biggest risk facing the U.S. economy comes from inflation, not the job market. Summers said, "If I were in Chairman Powell's position, my main concern would definitely focus on inflation." Speaking about the Fed's interest rate cuts, Summers said, "I don't think they are doing this due to political pressure, but I feel that at this moment, the Fed must 'do everything possible' (to maintain an anti-inflation stance). And I'm not sure they have achieved the 'full extent' that I expect."

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