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

Huobi HTX reported that former U.S. Treasury Secretary Summers said that the Fed's policies are tending to be "too loose" and emphasized that the biggest risk faced by the U.S. economy comes from inflation, not the job market. "If I were in Chairman Powell's position, the most worrying issue would certainly focus on inflation," Summers said. Speaking of the Fed's rate cut, Summers said, "I don't think they did this because of political pressure, but I feel that at this moment, [the Fed] has to 'do all out' (maintain an anti-inflation stance). And I'm not sure if they did what I expected to be 'full of all'."