Former US Treasury Secretary: Trump's remarks are "shocking", the consequences of presidential intervention in monetary policy are very serious
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Trump's interference in monetary policy has sparked controversy, with former Treasury Secretary expressing shock, believing that government intervention will exacerbate inflation without substantial output growth. He cited historical cases and the experience of Latin American countries, emphasizing the importance of central bank independence. Summers believes that there is no need for an emergency rate cut at the moment, but appropriate rate cuts may be suitable at the policy meeting in September. Powell previously stated that a significant rate cut is not currently under consideration
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