Larry Summers

As rumors of San Francisco-based First Republic Bank (NYSE:FRC) going under run thick and fast, former Treasury Secretary Larry Summers weighed in on the latest banking crisis. Speedy Resolution In Need: "I’m surprised and disappointed that this situation has continued to linger as long as it...

Former Treasury Secretary Lawrence Summers reportedly said the odds that the U.S. government could witness a technical debt default due to debt ceiling legislation stood at around 2%-3%. What Happened: Summers said, “I think the odds on a technical default associated with the debt limit...

The earnings season picks up steam in the coming weeks, and most analysts expect the market to take cues from the quarterly reports. Here’s a recap of a few major headlines that hit the wire over the weekend: 1. Bed Bath & Beyond's Chapter 11 Filing: Struggling home improvement retailer...

Some elements of this story were previously reported by Benzinga, and it has been updated. Comedian and political commentator Jon Stewart and former U.S. Treasury Secretary Larry Summers got into a heated exchange in March about the state of the economy during an episode of...

Although conversations around de-dollarization have gained ground recently, former Treasury Secretary Larry Summers did not seem too concerned during an interview with Bloomberg last week. The economist also shared his thoughts on how the U.S. should deal...

On Friday, former Treasury Secretary Larry Summers shared his thoughts on the U.S. economy and the country's global image in light of recent economic data and amid China's increasing influence in the Middle East.  Fed Faces Very Difficult Choices: There is...

The U.S. economy is facing some tough times ahead, and the Federal Reserve is standing on a double-edged sword, warns former Treasury Secretary Lawrence Summers. What Happened: The possibility of a recession is growing based on a range of weak economic indicators, Summer said in a Friday...

Former Treasury Secretary Larry Summers waded into a host of issues, including inflation, the economy and the banking crisis, in a recent interview with Bloomberg.  Bifurcated Outcome: One should not make too much out of the recent government data that shows a small let-up in inflation,...

As more skeletons tumble out of the banking closet, former Treasury Secretary Larry Summers called upon policymakers to reassure depositors and relay a willingness to use systemic risk exemptions. Task Cut Out: Policy leaders should be clear and decisive so that depositors will not lose their...

Former Treasury Secretary Lawrence Summers said the Federal Reserve was right in going with a 25 basis-points rate hike and it would have been a panic signal if the central bank had decided to pause. "This was the right choice. If the Fed had stopped raising interest rates when it clearly had the...

Weekends seem to keep central banks and government officials busy as they actively formulate policies and measures and stitch up deals to alleviate the liquidity crisis faced by the banking sector. This weekend saw the announcement regarding coordinated action from five of the world’s biggest...

The banking crisis has complicated matters for the Fed, which was decidedly tilting in favor of a 25 basis point hike in the fed funds rate or higher at the March meeting. Inflation Easing: Most of the economic data points released in the past week vouched for the resilience of the economy....

On Friday, former Treasury Secretary Larry Summers offered his take on the banking crisis and the Federal Reserve's potential move next week. On Big Bank Rescue Package: While discussing SVB Financial Group, the parent of the tainted Silicon Valley Bank, Summers said in a...

Former Treasury Secretary Lawrence Summers reportedly said the authorities did not do very well in handling the Silicon Valley Bank (NASDAQ:SIVB) crisis. In an interview with Bloomberg TV, Summers pointed out that this was the kind of thing that the authorities have been planning for since 2008. "...

Former Treasury Secretary Lawrence Summers reportedly said that Silicon Valley Bank committed one of the most elementary errors in banking — borrowing short-term funds to invest in long-tenor assets. What Happened: Summers pointed out that the government must take immediate steps to ensure...