Former US Treasury Secretary: if the Federal Reserve does not raise interest rates this month, it may be 50 basis points higher in July.

[former US Treasury Secretary: if the Federal Reserve does not raise interest rates this month, it may be 50 basis points higher in July]. On June 3, former US Treasury Secretary Summers said that if the Federal Reserve chooses to stand still at this month's policy meeting, then we should be open to raising interest rates by 50 basis points in July. Economic overheating is once again a major risk that the Fed needs to pay attention to. He said the May employment data released on Friday was generally strong. Although the unemployment rate rose to 3.7% from 3.4% in April, there may be "noise" in unemployment figures from household surveys, especially in May, when schools are closed.