Former US Treasury Secretary Summers Criticizes Fed's September Rate Cut

According to PANews, former US Treasury Secretary Lawrence Summers has expressed that the Federal Reserve's decision to cut interest rates by 50 basis points in September was a 'mistake,' although he noted it did not have a 'significant impact.' Currently, traders are pricing in less than a 25 basis point cut for the Federal Reserve's November meeting. Additionally, Bank of America has adjusted its expectations for the November rate cut from 50 basis points to 25 basis points.