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#powell #Marketupdate #Rate cut #Trump #Melina
Former US Treasury Secretary: Powell Will Ignore Trump's Rate Cut Calls and Avoid Discussing Politics
★Lawrence Summers, who served as Secretary of the Treasury under Bill Clinton, believes that Trump's public expression of "hope to see a significant rate cut" constitutes government public intervention, "which is easy to backfire, and the Fed will not follow his advice."
Summers also stated: "Unless a financial market prosperity collapse occurs, it will be difficult for the Fed to cut rates as much as expected." The Fed itself is eager to downplay its tense relationship with the White House. Powell is expected to avoid political issues and refrain from mentioning Trump's name in the post-meeting press conference.