Former U.S. Treasury Secretary: Powell will ignore Trump's call for rate cuts and avoid talking about politics

Golden Finance reported that Lawrence Summers, who served as Treasury Secretary during Bill Clinton's administration, believes that Trump's public statement that he "wants to see (interest rates) fall sharply" is an open intervention by the government, "which can easily backfire, and the Fed will not follow his advice." Summers also said that unless the financial market boom collapses, it will be difficult for the Fed to cut interest rates as much as expected. The Fed itself is eager to downplay tensions with the White House. Powell is expected to avoid questions about politics and avoid mentioning Trump's name at the press conference after the meeting. (Jin10)