Former President Barack Obama’s National Economic Council Director sounded the alarm on the Federal Reserve’s inability to tame inflation and warned about “a collision or crash down the road.”
Economist Larry Summers warned the public in a Saturday interview with Bloomberg TV that the Fed’s interest rate hikes aren’t enough to cool inflation, yet he advised against hitting the brakes too hard. “The Fed’s been trying to put the brakes on and it doesn’t look like the brakes are getting much traction,” Summers said. “And when your brakes don’t get much traction, two things happen. You can be moving too […]
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