Larry Summers on Monday offered his 'best guess' of how high the Federal Reserve will hike interest rates and said there could potentially be a recession.
Federal Reserve Chair Jerome Powell fired back at Sen. Elizabeth Warren while testifying before Congress Tuesday, after the Massachusetts Democrat confronted the chairman over the impact of interest rate hikes.
Former Treasury Secretary Larry Summers on Monday offered his "best guess" of how high the Federal Reserve will hike interest rates and said there could potentially be a recession. that he doesn’t think there’s "any question" that the U.S. does not "have inflation on a secure glide path anywhere near down" to the central bank’s 2% goal. The Fed will have to do tightening until it "can be confident of that," he said.
Lawrence Summers, president emeritus and professor at Harvard University, during a panel session on the closing day of the World Economic Forum in Davos, Switzerland, on Friday, Jan. 20, 2023. The annual Davos gathering of political leaders, to
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