Larry Summers has a warning and a tweetstorm for the Fed
Former U.S. Treasury Secretary Larry Summers isn’t on the agenda to speak at this year’s Federal Reserve economic symposium in Jackson Hole, Wyoming. But he didn’t let that stop him.
Summers was also a director of the National Economic Council under President Obama and chief economist at the World Bank. — Lawrence H. Summers August 22, 2019 In a world where the U.S. 10-year Treasury yield TMUBMUSD10Y, +0.91% is 1.50%, Fed officials confidence in their toolkit is “misplaced,” he said.
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