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Summers Urges Fed to Avoid Pledging Rate Hikes After Next Week

  • Former Treasury secretary says economic outlook uncertain
  • Summers says rates likely to settle above pre-pandemic levels
Bloomberg business news
Summers Says Fed Should Maintain 'Maximum Flexibility' on RatesSource: Bloomberg

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Former Treasury Secretary Lawrence Summers urged the Federal Reserve to refrain from signaling its next move after an expected interest-rate hike next week because of the economy’s highly uncertain outlook.