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The Latest Breaking News from Larry Summers

How High Does Harvard's Summers Think Unemployment Can Fly?

Economist Larry Summers says that if the Federal Reserve pushes interest rates high enough to control inflation, it may well cause recession.

The Street

Sanders, Graham square off on climate, gas prices in debate - Roll Call

Sens. Bernie Sanders, I-V.t., and Lindsey Graham, R-S.C. sparred over rising gas prices during a Monday debate.

Roll Call

Former Treasury secretary warns recession is ‘more likely than not’ in next two years

Larry Summers took issue with current Treasury Secretary Janet Yellen’s assessment of recession risk

The Independent UK

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The job market stays red-hot with the unemployment rate near a pre-pandemic low

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

WEKU

Biden Says Fighting Inflation Is His Top Economic Priority. His Antitrust Policy Would Make Inflation Worse.

Attacking big firms just for being big could drive up prices.

Reason

Investors See Real Estate as Best Hedge Against Inflation

Real estate has tumbled in recent months, with the FTSE Nareit REIT index slipping 11.95% year to date.

The Street

Larry Summers' new inflation target: Biden's "hipster" antitrust policies

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

Axios

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Musk and Bezos Agree on Who Is Responsible for Inflation

The two richest men in the world appear to have teamed up against a common adversary.

The Street

Elon Musk and Jeff Bezos Have the Perfect Inflation Culprit

The two richest men in the world appear to have teamed up against a common adversary.

The Street

A Bezos-Biden squabble: Can corporate taxes tame inflation?

Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet by President Joe Biden about corporate taxes as “disinformation” and “misdirection.”

The Independent UK

Fed Tries to Engineer Soft Landing for Economy

The central bank is expected to raise interest rates on Wednesday and then a number of times through year-end.

The Street

Recession Risk Up but No 'Recession Obsession': Goldman Sachs

'Stagflation concerns remain high among investors,' Goldman Sachs strategists said.

The Street

Larry Summers Says a Recession is Likely on the Way

With inflation roaring, bond yields jumping and the Federal Reserve poised for big rate hikes, fear of recession is rising.

The Street

COVID Stimulus Checks Worsened Inflation

Four economists at the Federal Reserve say America's high rate of inflation relative to the rest of the world is the result of surging disposable income during the pandemic.

Reason

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The Independent UK

Analysis: Biden finds inflation overshadows strong economy

President Joe Biden is paying a steep price for high inflation

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People

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