ICYMI – Former Treas Sec Summers urged the Fed to refrain from signaling its next move

The Federal Open Market Committee (FOMC) meeting is Wednesday:

• statement is due Wednesday February 1 at 2pm US ET (1900 GMT) with Powell’s presser following a half hour, later.

Earlier:

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ICYMI, Former US Treasury Secretary Lawrence Summers spoke with Bloomberg (gated).

• “I don’t think it’s a time to be committing to rate hikes, given the indications of softness that we have seen from a number of quarters,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. At the same time, the possibility of rate increases shouldn’t be taken off the table, he said.
• The Fed needs to “maintain maximum flexibility in an economy where things could go either either way,”
• “They’re driving the vehicle on a very, very foggy night.”