The US Federal Reserve will hold a new round of monetary policy meeting from the 3rd local time, and is expected to raise interest rates sharply to hedge against persistently high inflation.

However, former U.S. Treasury Secretary Summers and Harvard economic researcher Thomas Domarsh jointly wrote on the 2nd that since the 1950s, whenever the inflation rate exceeds 4% and the unemployment rate falls below 5%, the U.S. economy will be in two into a recession during the year.

The current inflation rate in the United States is 8.5% and the unemployment rate is 3.6%. Therefore, it is almost impossible for the Federal Reserve to achieve a "soft landing" of the economy by raising interest rates, but it may lead to an economic recession.