Agree

According to Jinishi: On August 10, former U.S. Treasury Secretary Lawrence Summers expressed his concerns about the potential consequences of political interference in monetary policy. Speaking on Friday, Summers cautioned against allowing the president to influence the Federal Reserve's decisions, warning that such involvement could lead to higher inflation and a weaker economy. "It's a stupid game to get politicians involved, and the end result is higher inflation and a weaker economy," he stated.Regarding the Federal Reserve's upcoming policy meeting, Summers noted that the easing of market volatility and stock market declines since Monday makes an emergency rate cut unlikely. However, he added that "a 50 basis point rate cut may be appropriate" when the Fed meets in September.