Former Treasury Secretary Lawrence Summers believes the probability of the United States entering a recession has spiked, pointing to tightening credit conditions. “Recession probabilities are going up at this point,” Summers said in an interview with Bloomberg. The U.S. economy averaged 345,000 monthly job additions in the first quarter of 2023 while the unemployment rate…

Former Treasury Secretary and National Economic Council advisor Lawrence H. Summers sees a recession coming and that it will not be a mild one. Summers, in an interview with MSNBC on Dec. 15, said that the Federal Reserve will have to face a recession in the end if inflation is to come down. He was speaking a day…

The Biden administration needs to reduce regulations and assist oil and gas companies in order to bring down inflationary price pressures on the U.S. economy, said former Treasury Secretary Larry Summers during a recent interview with CNN. When asked what the administration could do about the recession that many fear could hit the economy next…

Larry Summers, a former Treasury Secretary under President Bill Clinton, warns that the U.S. government has made a mistake by taking a hostile approach toward fossil fuels. “We made a mistake by canceling the Keystone pipeline. We made a mistake by slowing down all kinds of permitting activity. We made a mistake by being hostile…

Rooting inflation out of the U.S. economy will not be quick, and it will not be easy for the Federal Reserve, says former Treasury Secretary Larry Summers. While speaking during an interview with Fortune, the Harvard economics professor told the magazine that the central bank needs to do more to cool elevated inflation. But while…

Rooting inflation out of the U.S. economy won’t be quick, and it won’t be easy for the Federal Reserve, according to former Treasury Secretary Larry Summers. While speaking during an interview with Fortune, the Harvard economics professor told the magazine that the central bank needs to do more to cool elevated inflation. But while a…

Rooting inflation out of the U.S. economy won’t be quick, and it won’t be easy for the Federal Reserve, according to former Treasury Secretary Larry Summers. The Harvard economics professor told Fortune magazine that the central bank needs to do more to cool elevated inflation. But while a growing chorus of economists and market analysts fear…

The Federal Reserve needs to alert investors that in order to contain inflation, the central bank will have to impose a restrictive monetary policy that will drive up the U.S. unemployment rate, former Treasury Secretary Lawrence Summers said in a recent interview for Bloomberg Television. Summers, who was also a director of the White House National Economic…

Larry Summers, former U.S. Secretary of Treasury under President Bill Clinton, has stated that there is a “very high likelihood” of a recession befalling the United States in the near future, putting the economic expert at odds with many members of the current executive administration. In an interview on Monday with CNN’s Fareed Zakaria, the…

Larry Summers, who served as treasury secretary under President Bill Clinton, has said the Federal Reserve failed to anticipate current inflation levels and that price increases can only be arrested by “dislocation” of the economy. “Frankly, I think in 2021, our central bank lost its way,” Summers said in a July 15 interview with Bloomberg’s “Wall…