Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Former US Treasury Secretary Larry Summers warns that the March inflation report increases the likelihood of the Federal Reserve raising interest rates. Summers cautions against a rate cut in June, stating it would be a dangerous move. He highlights the risks associated with such a decision, emphasizing the potential negative impact comparable to past errors by the Fed.
Larry Summers Says June Rate Cut Could Be 'Dangerous And Egregious Error' After Hotter-than-Expected March Inflation Data Summers says the neutral rate is way above the 2.6% level that the Fed has been using as a north star, The futures market now prices in a 83% probability of… https://t.co/jOEsQjGLPs
‘Serious possibility’ that Fed’s next rate move is a hike, warns Larry Summers https://t.co/mn201cy6Zl
"You have to take seriously the possibility that the next rate move will be upwards rather than downwards. A rate cut in June would be a dangerous and egregious error comparable to the errors the Fed was making in the summer of 2021." -@LHSummers https://t.co/XCo4R1i2Pe