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IMF managing director Kristalina Georgieva warns that central banks are facing political pressure to cut interest rates prematurely amid election-year pressures. The IMF emphasizes the importance of central bank independence and resisting early rate cuts. Former US Treasury Secretary Lawrence Summers criticizes the Federal Reserve for being too eager to lower rates, suggesting a cautious approach due to sticky inflation. Larry Summers and others express concerns over the Fed's readiness to adjust rates, highlighting the challenges posed by current interest rate levels.