News list for " lawrence"
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, who served as Treasury secretary under Bill Clinton, argued that Mr. Trump's public statement that he "wants to see [interest rates] come down significantly" was a public intervention by the government that "could easily backfire and the Fed would not follow its advice". Mr. Summers added: Unless the financial marekt boom collapses, it will be difficult for the Fed to cut interest rates as much as expected. The Fed itself is eager to play down tensions with the White House. Mr....
Lawrence Summers, a Democrat and former US Treasury secretary, has dismissed the idea of a US government reserve of bitcoin assets and warned of political challenges to scaling back federal spending as planned by Mr. Musk, America's first buddy. Lawrence Summers said on the TV show: "What some people are saying, 'The idea that we should build some kind of national bitcoin reserve' is crazy."
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 ...
