The Latest Breaking News from Lawrence Summers

WASHINGTON — Janet Yellen denied advocating for a smaller American Rescue Plan than the $1.9 trillion package proposed by the Biden administration and passed by Congress in early 2021, after an advance copy of a book about the Treasury secretary showed she initially urged scaling it back by a third.

WASHINGTON — Janet Yellen, worried by the specter of inflation, initially urged Biden administration officials to scale back the $1.9 trillion American Rescue Plan by a third, according to an advance copy of a biography on the Treasury secretary.

The Federal Reserve on May 4, 2022, lifted its benchmark interest rate by half a percentage point to a range of 0.75% to 1%, its biggest increase in 22 years. The aggressive move, which has been expected for many months, is part of the U.S. central bank’s effort to slow…

With six months to go until the 2022 midterm elections, the economic indicators continue to deteriorate for Democrats. While unemployment remains low and the economy continues to grow (except for a recent hiccup that few take seriously), inflation is up dramatically, and interest rates are spiking.

The current economic issues of inflation and low growth could put Democrats at a disadvantage in the 2022 midterms.

The White House's latest attempt to scapegoat rising prices ignores everything that happened before the past three weeks.

Former Treasury Secretary Lawrence Summers urged President Joe Biden to ditch the “usual laundry list of policy proposals” in his State of the Union speech, in favor of a pivot toward grappling with a global environment dramatically altered by Russia’s invasion of Ukraine and its tightening links with China.