Larry Summers

Former Treasury Secretary Larry Summers said although the economy looks in better shape at present, the greater risk is that it will head towards recession at some point during 2023 — and inflation may still be too high for many people. What Happened: “The economy is in OK shape right...

Former Treasury Secretary Lawrence H. Summers believes it will take a long time to get inflation down to where the Federal Reserve wants it to be and that it would be a little more sustained than expected. “The labor market is strong and we are still in...

Former Treasury Secretary Lawrence H. Summers expects the Federal Reserve will have to suffer through a recession if inflation was to come down and that the recession will not be a mild one. “I think the market is probably right that inflation will come down from its current levels. There is...

Former Treasury Secretary Larry Summers is encouraged by this week's CPI data and said he hopes the Federal Reserve will relay a similar message following its decision on rates set for Wednesday afternoon.  What To Know: Summers took to Twitter Wednesday morning to commend ...

Former Treasury Secretary Lawrence H. Summers says he is not sure whether the Federal Reserve will tilt hawkish or dovish but believes the central bank should signal it is nearing the end of raising rates. In an interview with Bloomberg Television, Summers voiced his stance that he would be looking...

Former Treasury Secretary Lawrence H. Summers believes there is still a long way to go in getting inflation down to where the Federal Reserve wants it. “We are still in unprecedented territory in terms of the gap between vacancies & jobs. I think what that's telling you is we have a...

Former Treasury Secretary Lawrence H. Summers believes Wednesday’s JOLTS report shows the labor market is cooling very slowly and will likely continue to be extraordinarily tight for some months to come. “Job openings declined by only 350K last month, meaning we would need 9 more months...

Former Treasury Secretary Lawrence H. Summers has said the markets are uncertain about what the U.S. Federal Reserve will do in the current economic environment which is witnessing a two-sided risk. Markets are saying, given all the uncertainties, they are very uncertain what the @federalreserve...

Former Treasury Secretary Lawrence H. Summers believes the U.S. Federal Reserve is on the right path in its fight against inflation.  What Happened: Summers, in an interaction with Bloomberg TV, said if the central bank had not been excessively optimistic about...

Former Treasury Secretary Lawrence H. Summers believes the debt limit terror is a very serious threat in the backdrop of the current political scenario. “Debt limit terror is a much more serious risk in the context of rising interest rates, Treasury market illiquidity and increased foreign...

Former Treasury Secretary Lawrence H. Summers has praised Federal Reserve Chair Jerome Powell for his policy stance stating the apex bank head has framed the issues correctly. I am not sure of the FOMC statement, which the market read as backing off inflation fighting, but I thought @federalreserve...

Former Treasury Secretary Lawrence H. Summers has said the growing calls from politicians and economists for the U.S. Federal Reserve to pause its aggressive policy over fears of recession is “badly misguided” advice. What Happened: “As the Fed prepares to...

Former Treasury Secretary Lawrence H. Summers believes the United States is facing a very complex set of macroeconomic challenges but said the current situation does not include low unemployment and is not as grave as the 2009 financial crisis or inflation during the 1970s. “Curbing...

Former Treasury Secretary Lawrence H. Summers has pointed out that the terminal rate, as reflected by the Fed funds futures, has crossed the 5% mark, and this is a significant milestone. However, most of the possible increase in the current cycle has already taken place, he said....

The Consumer Price Index (CPI) data for September will be reported on Oct. 13 by the U.S. The Bureau of Labor Statistics. Analysts at JPMorgan Chase & Co and former U.S. Secretary of the Treasury Larry Summers weighed in on what is happening and what could happen. Why It Matters: This...