Found 271 article(s) for author 'Lawrence Summers'

50 percent chance of a US recession by 2020

50 percent chance of a US recession by 2020. Lawrence Summers, November 15, 2018, Video, “Former Treasury Secretary Larry Summers has put the chances of a U.S. recession at 50 percent within the next two years. The economist told CNBC’s Joumanna Bercetche on Thursday that a slowdown in growth was a “near certainty” before adding “the recession risk is nearly 50 percent over the next two years, maybe slightly less.Link

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Fed bashing is a fool’s game

Fed bashing is a fool’s game. Lawrence Summers, November 5, 2018, Opinion, “President Donald Trump has publicly and harshly rebuked Jay Powell, the chairman of the US Federal Reserve, for what he regards as misguided increases in interest rates that threaten continued economic expansion. As with much of what Mr Trump says and does, his way of doing business is counterproductive, irrespective of whatever merit his underlying position may have.Link

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Former Clinton Aide Larry Summers Pounds Trump Trade Strategy as ‘Very Erratic’

Former Clinton Aide Larry Summers Pounds Trump Trade Strategy as ‘Very Erratic‘. Lawrence Summers, October 17, 2018, Video, “The new North American trade agreement negotiated by the Trump Administration is slightly better than the original NAFTA, former Clinton Treasury Secretary Lawrence Summers admitted, but the negotiating techniques used to achieve it were too risky, he said.Link

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Fed needs to be mindful of lags between monetary policy and real economy

Fed needs to be mindful of lags between monetary policy and real economy. Lawrence Summers, October 5, 2018, Video, “Lawrence Summers, former Treasury secretary under President Bill Clinton and Harvard University president emeritus, joins ‘Squawk on the Street’ to discuss where the Fed’s mindset is on interest rates, inflationary pressures and the biggest economic risks.Link

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Final Thoughts on Secular Stagnation

Final Thoughts on Secular Stagnation. Lawrence Summers, September 6, 2018, Opinion, “Too little was done in the aftermath of the financial crisis a decade ago to stimulate aggregate demand, which would be boosted by a more equal income distribution. And substantially stronger financial regulation than was in place before 2008 needs to be adopted to minimize the risks of future crises.Link

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A jobs guarantee — progressives’ latest big idea

A jobs guarantee — progressives’ latest big idea. Lawrence Summers, July 2, 2018, Opinion, “The percentage of US workers, or those seeking employment, aged 25-54 has declined over the past two decades. The impulse behind the latest “big” progressive idea of offering job guarantees is entirely valid. Studies show that those without jobs are much more likely to be dissatisfied with their lives, to become addicted to alcohol or drugs, and to be abusive within their family than even those working at low wages they find inadequate.Link

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Too-Tight Fed Policy Greater Risk Than Inflation

Too-Tight Fed Policy Greater Risk Than Inflation. Lawrence Summers, July 1, 2018, Video, “Former U.S. Treasury Secretary Lawrence Summers said Federal Reserve interest-rate hikes that slow the nearly decade-long expansion are a greater risk to the economy than inflation. “Is the strategy one of relying on the Phillips curve and trying to preempt inflation, or is the strategy one of trying to let the economy grow as much as possible and respond to inflation problems as they arise,” Summers said in an interview Wednesday on Bloomberg Television. “I would very much favor the second.”Link

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