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Keyword: summers

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  • There's a 'meaningful' chance the Fed's next move is a rate hike, former Treasury Secretary Larry Summers says

    02/16/2024 1:31:24 PM PST · by RomanSoldier19 · 20 replies
    market insider via yahoo ^ | 2/16/24 | MARKETS TODAY
    A wave of inflationary signals means that the Federal Reserve's next move could be a rate hike, former Treasury Secretary Larry Summers said. "There's a meaningful chance, maybe it's 15%, that the next move is going to be upwards in rates, not downwards," Summers said during an interview on Bloomberg TV on Friday, adding that the Fed has to be "very careful." His read on recent key inflation indicators in January, including a 3.1% year-over-year increase in the consumer price index and a 0.9% rise in the producer price index, formed the basis of his rationale. He added that the...
  • Larry Summers: ‘Seize’ Russian State Assets to ‘Support’ Ukraine

    02/27/2023 9:40:08 AM PST · by ChicagoConservative27 · 45 replies
    Breitbart ^ | 02/27/2023 | ROBERT KRAYCHIK
    Larry Summers, former U.S. secretary of the treasury and former president of Harvard University, called for the Western governments to “seize” Russian government assets held in international banking institutions to “support” Ukraine and other countries during an interview with CNN’s Fareed Zakaria aired on Sunday. .@LHSummers says the U.S. should “seize” Russian assets held in international banks & redistribute them to Ukraine & “other nations” as well pic.twitter.com/vibKS065kh — Tom Elliott (@tomselliott) February 27, 2023 Summers framed reparations paid by the German government to the Soviet Union after World War II as a precedent for seizure of Russian government assets.
  • Larry Summers Blames ‘Banana Republicans,’ January 6 for Inflation

    06/12/2022 8:53:55 AM PDT · by ChicagoConservative27 · 15 replies
    Breitbart ^ | 06/12/2022 | Pam Key
    During Sunday’s broadcast of CNN’s “State of the Union,” former Treasury Secretary Lawrence Summers said that “banana Republicans” and the events of January 6, 2021 had contributed to the inflation underway in the U.S. economy. Summers said, “We should focus on what’s important, not raising input prices for American producers, so they’re less competitive, which is what much of those tariffs do. Instead, we should be focusing on things that allow the leakage of key technologies to China and the like. We should pass at long last some kind of legislation, ideally, on a bipartisan basis that would raise the...
  • Summers: Eliminating Student Loan Moratorium Would Help Ease Inflation

    05/14/2022 12:51:10 PM PDT · by ChicagoConservative27 · 24 replies
    Breitbart ^ | 05/14/2022 | Ian hatchett
    During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that if politicians want to help solve inflation, one way to do so would be asking borrowers who “are in better financial condition than any time in a very long time, to pay back their student debts, rather than maintaining the moratorium.”
  • Summers: We’re Closer to 70s-Level Inflation Than Most Realize

    04/16/2022 9:46:02 AM PDT · by ChicagoConservative27 · 28 replies
    Breitbart ^ | 04/16/2022 | Ian hatchett
    During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued that “we’re actually closer to being back” to the inflation levels of the 1970s than most realize.
  • Summers: I Haven’t Seen Any ‘Serious Support’ for Biden’s Claim Oil Companies Are Profiteering

    03/19/2022 10:43:48 AM PDT · by ChicagoConservative27 · 28 replies
    Breitbart ^ | 03/19/2022 | Ian hatchett
    During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers responded to President Joe Biden’s tweet accusing oil and gas companies of padding their profits by keeping gas prices high by stating, “there’s nothing that would support that in the president’s tweet, and I haven’t seen any analysis coming out of the administration, or anyplace else, that provided serious support for that.”
  • Summers: Inflation Is the Result of ‘Overheated Economy,’ Blaming Corporate Greed ‘Will Likely Make This Worse’

    03/12/2022 10:17:39 AM PST · by ChicagoConservative27 · 20 replies
    Breitbart ^ | 03/12/2022 | Ian hatchett
    During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued that the core issue with inflation is the fact that the economy is overheated and the problem of inflation won’t be fully solved until the overheating in the economy is solved. Summers also argued that blaming corporate greed and price gouging for inflation is “likely” to make the inflation problem worse because doing so will hurt business confidence and lower the level of needed investments.
  • Summers: Can’t Blame Inflation on Pandemic, War, or Gouging, It’s about ‘Managing the Level of Demand’

    03/11/2022 5:56:48 PM PST · by ChicagoConservative27 · 30 replies
    Breitbart ^ | 03/11/2022 | Ian hatchett
    BREITBART On Friday’s broadcast of ABC’s “GMA3,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers called on the Federal Reserve to raise interest rates and signal that further interest rate increases are coming and argued that the Federal Reserve can’t blame inflation on the coronavirus pandemic or the war in Ukraine, and the Biden administration can’t blame corporate greed for inflation because, at its core, the issue is about “managing the level of demand in the economy.”
  • Summers: We’re ‘Facing Real Risks’ of ‘1970s-Type’ ‘Stagflation’

    03/05/2022 5:37:21 PM PST · by ChicagoConservative27 · 23 replies
    Breitbart ^ | 03/05/2022 | Ian hatchett
    On Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist Larry Summers stated that “we’re now facing real risks of a 1970s-type scenario…the same kind of broad phenomenon of stagflation.” And that this is partially “a response to the excessive stimulation of the economy during 2021.” Summers stated that monetary policy is effective at tamping down inflationary pressures, “but it may not be an effective tool without engineering a slowdown in the economy. The last dot plot has the Fed believing that three things are going to happen together: that inflation’s going to fall below three, unemployment’s going to stay well...
  • Summers: Without Changes, We’ll ‘Entrench Inflation Way above 2%’ – Reconciliation Bill Will Increase 2022 and 2023 Inflation

    12/11/2021 3:59:00 PM PST · by ChicagoConservative27 · 3 replies
    Breitbart ^ | 12/11/2021 | Ian hatchett
    On Friday’s broadcast of Bloomberg TV’s “Wall Street Week,” economist Larry Summers stated that “we’re going to entrench inflation way above 2%, perhaps in the 4% or even higher range, unless something happens to break the current mood,” and the Build Back Better reconciliation bill will increase inflation over the next two years, but it could be offset by the Federal Reserve’s monetary policy.
  • Rubin Joins Fellow Clintonite Summers With Warning About “Elevated Risk” Of Persistent Inflation

    06/28/2021 5:24:09 PM PDT · by blam · 14 replies
    Nation & State ^ | 6-28-2021
    Earlier this year, former Clinton Treasury Secretary and erstwhile Harvard President Larry Summers was pilloried by his fellow Democrats for daring to suggest that the firehose of COVID-inspired fiscal and monetary stimulus would likely cause runaway inflation. Then, over the weekend, Summers doubled down on that (so far, correct) call, warning that inflationary pressures might be more persistent than the Fed’s Chairman Jerome Powell (who continues to insist that price pressures will ultimately be “transitory” despite the FOMC’s decision to move up its expectations for the timing of rate hikes to account for hotter-then-expected inflationary prints) has let on. Now,...
  • Former Obama Adviser Larry Summers Warns Joe Biden: Inflation the ‘Primary Risk’ to U.S. Economy

    05/25/2021 7:51:05 AM PDT · by ChicagoConservative27 · 19 replies
    Breitbart ^ | 05/25/2021 | Charlie Spiering
    Larry Summers, a former economic advisor to former President Barack Obama, warned President Joe Biden on Monday that inflation is a looming threat to the United States economy. “Now, the primary risk to the U.S. economy is overheating — and inflation,” Summers wrote in a Washington Post op-ed published Monday evening.
  • Miss Nebraska wins Miss USA competition

    05/21/2018 8:20:01 PM PDT · by ConservativeStatement · 48 replies
    AP ^ | May 21, 2018
    SHREVEPORT, La. — Sarah Rose Summers from Nebraska beat out 50 other women Monday to win this year’s Miss USA competition. Summers, a 23-year-old contestant from Omaha, graduated from Texas Christian University with two degrees and is working on becoming a certified child life specialist.
  • Lawrence Summers: Trump doesn’t deserve credit for all the economic good news

    01/22/2018 2:15:40 PM PST · by SeekAndFind · 56 replies
    Washington Post ^ | 01/22/2018 | By Lawrence H. Summers
    President Trump will be attending the World Economic Forum in Davos this week. Inevitably, attention will focus on whether the president projects a commitment to internationalist values or reiterates his truculent nationalism in the name of making America “great again.” Attention will also focus on the durability of the current economic and market upswing that has buoyed the spirits of businesses and investors around the world. While Trump will probably try to take credit for all the economic good news, it is unlikely that he deserves it. He is president of the United States, not the world. And the economic...
  • Looting Russia's Free Market

    08/16/2002 7:13:59 AM PDT · by Stand Watch Listen · 14 replies · 393+ views
    INSIGHT magazine ^ | August 12, 2002 | Kelly Patricia O'Meara
    Americans are becoming only too aware of the financial tricks and deceit in which some of the nation's largest and most respected corporations engaged during the Clinton administration to pump up stock prices with fraudulently inflated profits. When the huge bubble no longer could be sustained the men and women at the top would bail out of their stock and pocket millions, leaving pensioners and other investors holding an empty bag. To market insiders these are known as "pump and dumps." While federal investigators are looking into the corporate malfeasance at Enron, WorldCom, Qwest Communications, AOL Time Warner and...
  • Memphis Couple missing, 3 sons Hospitalized

    11/30/2016 8:54:07 AM PST · by azkathy · 7 replies
    The Commercial Appeal ^ | 11-30-2016 | Jody Callahan
    As officials continue to search for a Memphis architect and his wife still missing after devastating fires that hit Gatlinburg this week, family and friends are using social media to provide updates on the family. Jon Summers and his wife, Janet, haven't been found, friends said, and their three sons — Branson and twins Wesley and Jared — have been hospitalized after being caught in the fire. All three sons are at Vanderbilt University Medical Center, family friends confirmed. “The boys are doing much better. That’s great news,” Steve Berger, president of the architectural firm that employs Jon Summers, said...
  • What’s behind the revolt against global integration? [STOPPING THE "ELITES"]

    04/11/2016 3:09:45 AM PDT · by expat_panama · 30 replies
    Washington Post ^ | April 10 | Lawrence Summers
    Since the end of World War II, a broad consensus in support of global economic integration as a force for peace and prosperity has been a pillar of the international order. From global trade agreements to the European Union project; from the work of the Bretton Woods institutions to the removal of pervasive capital controls; from the vast expansion in foreign direct investment to major increases in the flow of people across borders, the overall direction has been ... ...more successful than could reasonably have been hoped. We have not had a war between major powers. Global standards of living...
  • It’s time to kill the $100 bill

    02/16/2016 11:00:17 AM PST · by TroutStalker · 80 replies
    Washington Post ^ | February 16, 2016 | Lawrence H. Summers
    Harvard's Mossavar Rahmani Center for Business and Government, which I am privileged to direct, has just issued an important paper by senior fellow Peter Sands and a group of student collaborators. The paper makes a compelling case for stopping the issuance of high denomination notes like the 500 euro note and $100 bill or even withdrawing them from circulation. I remember that when the euro was being designed in the late 1990s, I argued with my European G7 colleagues that skirmishing over seigniorage by issuing a 500 euro note was highly irresponsible and mostly would be a boon to corruption...
  • How liberal 'triumphs' on Syria and Summers have weakened Obama

    09/16/2013 7:08:17 PM PDT · by Jim Robinson · 5 replies
    csmonitor.com ^ | Sept 16, 2013 | By Linda Feldmann
    The left is on a roll. Liberals successfully pushed back against President Obama’s plan to launch airstrikes in Syria, and then quashed the expected nomination of Larry Summers as the next chairman of the Federal Reserve Board. That one-two punch from some usually loyal Democratic allies has left Mr. Obama in a weakened political state right as he enters tough negotiations with Republicans: to keep the government funded beyond Sept. 30, and to raise the limit on federal borrowing authority a few weeks later. Republican House Speaker John Boehner is having an even harder time getting his own base to...
  • Larry Summers withdraws name from Fed consideration

    09/15/2013 2:33:33 PM PDT · by Nachum · 24 replies
    Washington Post ^ | 9/15/13 | Zachary A. Goldfarb
    Former White House economic adviser and Treasury secretary Lawrence H. Summers has withdrawn his name as a candidate for Federal Reserve chairman, a person familiar with the matter said Sunday. President Obama had been strongly considering naming Summers to the post after their long experience fighting the financial crisis and recession. The decision may mean that another top candidate, current Federal Reserve vice chairman Janet Yellen, will get the job, or another candidate. In a letter dated Sunday to the president, Summers wrote that he was withdrawing his name. “It has been a privilege to work with you since the