Former U.S. Treasury Secretary Summers said that the release of a series of weak economic data means that the possibility of a U.S. economic recession is increasing. The Federal Reserve is nearing the end of its rate-raising cycle. He also pointed out that whether it was soaring inflation or the collapse of Silicon Valley banks, the Fed was too late to notice and needed to seriously reflect on this. Former U.S. Treasury Secretary Summers said that the release of a series of weak economic data means that the possibility of a U.S. economic recession is increasing. The Federal Reserve is nearing the end of its rate-raising cycle. He also pointed out that whether it was soaring inflation or the collapse of Silicon Valley banks, the Fed was too late to notice and needed to seriously reflect on this.
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