Former US Treasury Secretary Summers: The Federal Reserve's 50 basis point cut in September is "a mistake"
PANews reported on October 4th that former US Treasury Secretary Summers stated that the Federal Reserve's 50 basis point cut in September was "a mistake," but it also did not have a "significant impact."
It is reported that traders are now pricing less than 25 basis points for the Fed's rate cut in November, while Bank of America has adjusted its expectation for the Fed's rate cut in November from 50 basis points to 25.
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