Former Treasury Secretary Larry Summers is warning that a potential rate cut by the Federal Reserve would be a serious mistake. In a new interview with Bloomberg Television, Summers comments on the latest core consumer price index (CPI) numbers that came in hotter than expected, saying that no one should be surprised by the presence […]
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Former U.S. Treasury Secretary Lawrence Summers says an old school method of tracking inflation may reveal the real amount of economic pain that Americans have had to endure. Summers has co-authored and released a new paper exploring the effect of high interest rates on the American consumer. The paper, in part, aims to paint an […]
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Former United States Secretary of the Treasury Larry Summers is expressing apprehension about the inflation outlook in the world’s largest economy. In an appearance at the All-In Summit 2023, Summers says that the Federal Reserve might be wrong in its views regarding the effectiveness of the measures it has taken to address inflation. “I think […]
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Former US Treasury Secretary Larry Summers says America is walking a precarious path as the nation’s budget deficit reaches $1.613 trillion. Speaking in an interview with Bloomberg at the Aspen Economic Strategy Group Summit, Summers says that everything is suggesting that the US’ costs are about to vastly overshadow its revenue, creating a larger and […]
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The US government will impose “substantial” tax increases on its citizens to try and fix its $1.4 trillion deficit, according to former Treasury Secretary Larry Summers. In a new speech covered by Bloomberg, Summers says that out of control inflation and debt will force the US government to continue raising taxes and lean towards higher […]
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Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S. Economy and Stagflation Economist and gold bug Peter Schiff warned about the U.S. economy […]
Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned. Larry Summers on Countries Banding Together Against the US Former Treasury Secretary Lawrence Summers […]
Former Treasury Secretary Larry Summers says that the United States is facing new challenges as China expands its influence on the global stage. In a new Bloomberg interview, Summers says that while the US is spearheading the campaign against Russia’s agenda in Ukraine, oil-rich countries such as Saudi Arabia and Iran are starting to take […]
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Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons from the collapse of FTX. Larry Summers Compares FTX to Enron Former Treasury Secretary Lawrence Summers shared […]
With inflation soaring in the U.S., economists from monetary policy analytics and forecasting firm LH Meyer say the U.S. Federal Reserve could stop shrinking its balance sheet earlier than expected. However, critics have said the U.S. central bank hasn’t really shrunk the Fed’s balance at all, and the entity has been accused of keeping quantitative […]