Larry Summers

Rating agency Fitch dropped a bombshell late Tuesday, leaving analysts and economists confused. Even as the U.S. economy is chugging along nicely despite the encircling uncertainties, the firm downgraded U.S.'s long-term rating from "AAA" to "AA+." The firm, however, removed the "rating watch...

Prominent economist Larry Summers, who served in both the Obama and Clinton administrations, recently expressed deep concerns about elements of President Joe Biden's economic agenda. In a virtual address at the Peterson Institute for International Economics on Tuesday, Summers labeled aspects...

Former Treasury Secretary Larry Summers has expressed concern over the Biden administration’s crackdown on mergers and acquisitions, stating it “seems almost like a war on business,” Bloomberg reports. Concerns Over New Guidelines: Summers criticized the new guidelines proposed by...

The City of New York has reportedly opted to settle a three-decade-long litigation brought against it for bias in a certification exam meant for New York State teachers. Former Treasury Secretary Larry Summers commented on the development. What Happened: The settlement agreement involved...

Last month, the Supreme Court effectively scrapped affirmative action in universities. On Friday, former Treasury Secretary Larry Summers offered his take in an interview with Bloomberg. What Happened: During the interview, Summers noted that, while diversity is important, what is more important...

Cathie Wood, in a media appearance Friday, shed light on her take on how the Federal Reserve has handled inflation and monetary policy in the current tightening cycle. Deflationary Pressure Taking Hold: The Fed has jacked up interest rates 21-fold and all long-duration assets were slaughtered last...

The softer-than-expected June non-farm payrolls data has polarized economists, with some suggesting the Federal Reserve should stall rate hikes to avert a recession. Former Treasury Secretary Larry Summers, however, sees the need for more tightening. What Happened: The data released last week is...

The war between Ukraine and Russia has gone on for nearly a year and a half now, and there is no resolution in sight. Treasury Secretary Larry Summers on Thursday discussed the war and what it would take to bring normalcy back in Ukraine. What Happened: The U.S., European countries and their allies...

Former Treasury Secretary Larry Summers on Friday revisited the rate pause announced by the Federal Reserve this week and also shed some insight into the Chinese economy in light of the People's Bank of China's rate cut. What Happened: The Fed action this week was a little bit confusing, Summers...

With the first-quarter reporting season and the debt ceiling impasse now in the rearview, all eyes are now on the June meeting of the Federal Open Market Committee, the policy-setting arm of the central bank. The past two days also witnessed a bloodbath in the cryptocurrency market. Here's a...

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy. He lamented the bloating fiscal deficit. What Happened: “For all of the post-financial crisis/pre-pandemic period, I feared secular stagnation and opposed fiscal alarmism,...

The weekend belonged to the ratification of the budget bill after months of bickering and this is expected to bring much-needed calm to the financial markets. OPEC+, the oil cartel that controls much of the global crude supplies, also took the spotlight during the weekend that went past. Here...

Former U.S. Treasury Secretary Larry Summers recently weighed in on the rate outlook in light of the stronger-than-expected May non-farm payroll numbers released on Friday. Economy's Robustness: The May non-farm payrolls report was positive due to the 339,000 jobs added last month and the upward...

The debt ceiling stalemate continues as Republican lawmakers walked off the discussion table on Friday only to join back in the evening. President Joe Biden and Treasury Secretary Janet Yellen have warned of serious consequences if a debt deal is not reached. Against the backdrop, former Treasury...

Former Treasury Secretary Lawrence Summers reportedly said the new debt ceiling deadline of June 1 is unwelcome, but not unexpected and that "we just have to rely on fear to do the work of reason." What Happened: "We knew that this day would come. We have seen for the last few weeks tax collections...