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The Latest Breaking News from Larry Summers

CBO data shows why deficits should matter again

There was a widening bipartisan sense that fiscal deficits don't really matter. Now, they do again.

Axios

Larry Summers Urges Tax Hike On Top 1% As He Sees Economy Languishing In ‘New And Dangerous Territory’

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy

Zenger

Larry Summers says that the Fed should consider doubling down on interest rates in July if it pauses in June because the risk of 'overheating the economy'

Suggestion comes as other economists push for an end to increases.

Fortune

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Elon Musk Questions the Strength of the U.S. Economy

The serial entrepreneur is one of the voices which believe that the world's largest economy is already in recession.

The Street

Politicians 'reluctant to tell truth about mess UK is in', former Tory chair says

A FORMER chair of the Tory Party was applauded on Question Time after saying that politicians were not telling people the truth: 'We’re in one…

The National (Scotland)

Brexit was ‘historic economic error’, says ex-US Treasury chief

UK’s exit from EU helped fuel inflation crisis, says top US economist Larry Summers

The Independent UK

Eminent US economist delivers damning verdict on Brexit and UK inflation

BREXIT has worsened inflation in the UK and will be remembered as a “historic” economic mistake, an esteemed US economist has said ...

The National (Scotland)

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UK factories blame 16th month in a row of falling exports on Brexit barriers

Companies report trading with Europe is now more difficult as Larry Summers says exit from EU ‘contributed to higher inflation’

The Guardian - UK

Why you'll pay more interest on your mortgage – maybe forever

Reserve Bank analyses whether interest rates will need to be pegged higher longterm, to keep inflation down. Jonathan Milne reports.

Newsroom.co.nz

Former Treasury Secretary Summers Criticizes IRS Provisions In Debt Ceiling Agreement

Summers opposes IRS funding cuts in debt ceiling deal, warns of future deficits and tax cheats' advantage.

Zenger

Jamie Dimon says the Fed should pause rate hikes, but also warns it’s a new era for the economy

Even as the Fed brightens on inflation, Dimon says to brace for more “volatility” ahead.

Fortune

Larry Summers Warns About The Use Of The 14th Amendment For Government To Pay Its Bills

Former Treasury Secretary Larry Summers warned the possibility of increase in inflation over the next several years.

Zenger

Larry Summers says the debt limit fight could shave $6 trillion from U.S. markets

Summers says the current debt limit debate has many similarities with the 2011 standoff that dealt a major blow to markets.

Fortune

First Republic Bank Fails As Former Treasury Secretary Larry Summers Warns The Consequences To Come

The failed bank was taken over by the FDIC and taken over by JPMorgan Chase A Month After Received A $30 billion deposit

Zenger

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Fortune

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Albert Edwards, an economist at the 159-year-old investment bank Société Générale, says corporate greed may call for the unthinkable: Price controls.

Zenger

The Fed Struggling With Building Renovations Amid Rise Of Inflation

Rise in interest rates as the central bank depends on tax dollars for maintaining building and infrastructure.

Fortune

An economist who correctly predicted the Great Financial Crisis says the world’s central banks have chosen ‘class war over financial stability'

The Fed and other central banks want to bring down inflation at all costs. Is it worth it?

The Street

Elon Musk Breaks With Wall Street

The billionaire calls on the Fed to lower interest rates to avoid a new shock to the economy, a position at odds with the Wall Street consensus.

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Fortune

SVB's collapse could lead to 'contagion' among regional banks—but experts say it's not a systemic risk to the entire financial system

“We do not believe there is contagion risk for the rest of the banking sector on the heels of SVB's struggles,” David Trainer, CEO of the investment research firm New Constructs, told Fortune.

Fortune

Larry Summers says lower spending spells out a recession

A recession is still more likely than not, and it may have to do with how much Americans are spending, the former treasury secretary says.

Fortune

Larry Summers warns now is not the time for investor ‘euphoria’—markets are headed for a ‘turbulent period’

“I think the consensus has become substantially too complacent about inflation,” the former Treasury Secretary told Bloomberg Friday.

Fortune

Larry Summers compares the Fed's inflation fight to taking a medicine to fight an 'infection'—and says the 'risks are very large' that the economy tips into a recession

Former Treasury Secretary sees a soft landing as a possibility, but the risk of a recession still remains very high.

Fortune

Larry Summers says the economy could be headed towards a 'Wile E. Coyote moment'

The Harvard economist warns the economy could walk "off a ledge" sometime this year. “I’m not predicting with confidence that that will happen, but I think the risks are significantly elevated.”

The Street

Fear of Recession Recedes; Here's What Janet Yellen Thinks

Nonfarm payrolls soared 517,000 in January, while the unemployment rate dropped to a 53-year low of 3.4%.

Fortune

'It really disturbs me to say this, but I think I agree with Larry.' Paul Krugman sides with frenemy Larry Summers on inflation fight.

Both economists think the U.S. Federal Reserve is just as likely to overestimate inflation as underestimate it.

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