Here's your summary from Fed Would Be 'Crazy' to Cut Rates in July, Mizuho's Ricchiuto Says (https://www.youtube.com/watch?v=WXYuaMLlG0M) on the Bloomberg Television channel:

**TLDR:** The Federal Reserve should not cut interest rates in July according to Mizuho's Ricchiuto.

1. The Federal Reserve aims to maximize social welfare by keeping unemployment low, while inflation hawks advocate for maintaining inflation at 2%.

2. Cutting interest rates in July would be risky and could lead to a need for reversal in the future.

3. The Federal Reserve has been eager to cut rates, but it may be more prudent to wait and assess the data before making a decision.

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