The Fed has 'itchy fingers' and should not be in a rush to cut interest rates, Larry Summers says

• Former Treasury Secretary Larry Summers says the Fed seems too eager to cut rates. 
• He said the Fed's neutral rate target is too low given how strong the economy is. 
• "My sense is still that the Fed has itchy fingers to start cutting rates and I don't fully get it."

Former Treasury Secretary Chairman Larry Summers thinks the Federal Reserve is getting ahead of itself in its outlook for rate cuts. 

"My sense is still that the Fed has itchy fingers to start cutting rates and I don't fully get it," Summers said during an interview with Bloomberg on Thursday, citing key economic indicators that seem at odds with the Fed's appearance of being "in such a hurry" to loosen policy.