Former Treasury Secretary Larry Summers advised the Federal Reserve to be cautious and deliberate ahead of their monetary policy meeting, as he sees no 'overwhelming evidence' supporting rate cuts. He commented on the robust November non-farm payrolls report, which exceeded expectations, and warned against declaring victory over inflation prematurely. Financial markets have rallied with the S&P 500 reaching yearly highs, partly due to expectations of Fed rate easing in 2024. The Fed is expected to maintain interest rates with a high probability of a pause at 5.25% to 5.50%.