News list for " Lawrence Summers"
Four years after former US Treasury Secretary Lawrence Summers accused US fiscal and monetary policymakers of over-stimulating and potentially triggering the biggest inflation blowout in a generation, he warned of the danger of renewed price pressures. "This is probably the most sensitive moment for inflation escalation since the policy missteps of 2021 triggered severe inflation," Mr. Summers said. "This is a moment where we have to be very careful about inflation, even before you see the polic...
Lawrence Summers, the former US Treasury secretary, has warned against allowing the president to interfere in monetary policymaking or it will only end up hurting the economy over time. "It's a stupid game to get politicians involved," Mr. Summers said on Friday, "and the end result is higher inflation and a weaker economy." Mr. Summers' comments came a day after Republican presidential candidate Donald Trump said he believed the president should be in charge of Federal Reserve policymaking.
Lawrence Summers, the former US Treasury secretary, has warned against allowing the president to intervene in monetary policymaking or it would only end up hurting the economy over time. As for the Fed's policy decisions, the former Treasury secretary said any emergency rate cut was untenable "in terms of the facts at hand" given that market volatility and stock market declines had eased since Monday's turmoil. Still, Mr. Summers said a "50 basis point cut" at the September policy meeting would ...
