Summers Warns Trump's Pressure on Fed for Rate Cut Could Backfire, Speculates Powell's Job Safe

Published: Jul 18, 2025 17:36

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Former US Treasury Secretary Summers warned in his latest statement on Thursday that Trump's pressure on the US Fed to make a significant interest rate cut is likely to backfire. Summers speculated that Trump would ultimately not choose to fire Powell, as the consequences of doing so would be severe.

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