The Fed's move this week appears inconsistent, and may have been influenced by its internal politics, Larry Summers said. The Ex-Treasury chief told Bloomberg that he found the central bank's late policy announcement confusing. AdvertisementThe Federal Reserve's move this week to hold interest rates and signal future increases at once reflects an inconsistent approach that may have been influenced by the central bank's internal politics, former Treasury Secretary Larry Summers said. The US central bank decided to keep rates steady on Wednesday, taking a breather after 10 consecutive hikes over the past 15 months. Advertisement"I understand the arguments for having gone the other way," Summers continued.

Source: Economic Times June 16, 2023 10:57 UTC