Former US Treasury Secretary Summers: Interest rates will remain high in the long term, with a neutral interest rate of 4.5%, and inflation won't return to 2%.

Despite the decline in inflation and economic slowdown, the Federal Reserve continues to maintain the highest interest rates in decades. Former US Treasury Secretary Lawrence Summers believes that the era of low interest rates is gone and long-term interest rates will continue to rise, with neutral interest rates far higher than the Fed's expectations. On Tuesday local time, Summers said in a New York Economic Club online seminar: In the foreseeable future, the market should be accustomed to the current range of interest rates and even the long-term interest rates that are higher than the current level. He also believes that inflation has not gone on a convincing trajectory and is difficult to achieve in the United States.

wallstreetcn21:46 ET

Former U.S. Treasury Secretary Summers: Federal Reserve has little room to cut interest rates, neutral rate expected at 4.5%.

During a discussion at the New York Economic Club on Tuesday, Eastern Time, Professor Lawrence Summers of Harvard University and Glenn Hubbard, former chairman of the Economic Advisory Council for President George W. Bush, discussed the future economic trends and monetary policy direction of the United States. Summers estimates that the US neutral interest rate is about 4.5%, higher than the Federal Reserve's forecast of 2.6%. Summers pointed out that there is currently no...

環球市場播報20:21 ET

Gold Prices Retreat Amid Risk-off Sentiment, Falling US Yields

Gold drops 0.90% as commodities face widespread pressure.

FXStreet14:48 ET

US Dollar Sees Moderate Gains Despite Soft Labor Market Data

USD manages to hold its ground on Tuesday after sharp losses on Monday due to disappointing May ISM PMIs.

FXStreet12:49 ET

US JOLTs job vacancies hit a nearly 3-year low! Will a rate cut by the Federal Reserve depend on the non-farm payrolls report?

Job openings in the United States in April fell to the lowest level in over three years, consistent with the gradual slowdown in the labor market and strengthening people's speculation that the Fed will be able to cut interest rates this year, causing spot gold to fall back after returning to $2330.

FX678 FinanceJun 4 11:40 ET

Is the Federal Reserve's interest rate cut countdown underway? The global market is anxiously awaiting heavy data this week!

Global stock markets suffered a sell-off on Tuesday, with the US dollar falling to a new low for the months. Concerns over the weakening of the economy were sparked by the weakness in US manufacturing, and the unexpected results of the Indian elections caused turmoil in Asian markets. European energy stocks were hit, while the US Treasury market remained stable. Expectations for a Fed rate cut are on the rise, and this week's key employment data will be the focus.

FX678 FinanceJun 4 08:31 ET