Sommers criticized the silence of the financial sector and warned that a crisis of the credibility of the Federal Reserve could lead to disaster.

Former US Treasury Secretary Lawrence Summers warned that although concerns about the independence of the Federal Reserve have been limited so far in the financial markets, the situation "could change very quickly." Summers said, "We are at the foot of a crisis of confidence in the Fed, facing an entirely unprecedented situation." Summers mentioned that President Trump has requested a three percentage point interest rate cut from the Fed, and has criticized Fed Chairman Powell harshly. Summers emphasized that Trump is attempting to dismiss board member Lisa Cook "without any due process," and there are reports that individuals nominated by Trump may be attempting to restructure the leadership of regional Federal Reserve banks. Summers believes that the current silence in the financial sector is "disturbing."