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The Latest Breaking News from Larry Summers

‘Erosion of governance’ led Fitch to downgrade US credit rating

Trump’s efforts to overturn election and political polarization led agency to decision, says senior director

The Guardian - US

Fitch Downgrades US’ Long-Term Rating From “AAA” To “AA+” ‌

Former treasury secretary Larry Summers says downgrade when economy is looking stronger than expected is “bizarre and inept”.

Zenger

Bidenomics’ critics are being proven wrong. Happy days are here again

How has the U.S. economy proven so resilient? Partly due to Bidenomics, write Yale's Sonnenfeld and Tian.

Fortune

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Larry Summers slams ‘Bidenomics’ strategy as ‘increasingly dangerous’

The former White House economist said aspects of “Bidenomics” were mistakenly being regarded as “a route to higher incomes.”

Fortune

Larry Summers ‘disappointed’ in FTC’s new merger guidelines. It’s not the first time he’s disagreed with the Biden admin

The former Treasury secretary has a track record of criticizing the Biden administration’s economic policies.

Fortune

Australia is on the brink of ending interest rate hikes and an economic first – beating inflation without a recession

What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession.

The Conversation

Larry Summers Calls For Overhauling University Admissions To Prioritize Opportunity Over Diversity

Former Treasury Secretary recommends eliminating legacy admissions, expanding transfer student intake

Zenger

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Larry Summers Sees Need For More Tightening Despite Soft June Jobs Data

Former Treasury Secretary warns of inflation risk and suggests further interest rate hikes.

Zenger

Jeffrey Epstein 'planned to hire Prince Andrew to be an adviser for new consultancy'

Emails sent between paedophile Jeffrey Epstein and his private banker claimed to show they discussed hiring Prince Andrew as a "star advisor" for a new consultancy firm

Daily Mirror

No Trade Is Free review: Trump’s man plots an unusually civil course

Robert Lighthizer, once US trade representative, is a rare aide of little interest to investigators. His readable book shows why

The Guardian - US

CBO data shows why deficits should matter again

There was a widening bipartisan sense that fiscal deficits don't really matter. Now, they do again.

Axios

Larry Summers Urges Tax Hike On Top 1% As He Sees Economy Languishing In ‘New And Dangerous Territory’

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy

Zenger

Larry Summers says that the Fed should consider doubling down on interest rates in July if it pauses in June because the risk of 'overheating the economy'

Suggestion comes as other economists push for an end to increases.

Fortune

Politicians 'reluctant to tell truth about mess UK is in', former Tory chair says

A FORMER chair of the Tory Party was applauded on Question Time after saying that politicians were not telling people the truth: 'We’re in one…

The National (Scotland)

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The Independent UK

Brexit was ‘historic economic error’, says ex-US Treasury chief

UK’s exit from EU helped fuel inflation crisis, says top US economist Larry Summers

The National (Scotland)

Eminent US economist delivers damning verdict on Brexit and UK inflation

BREXIT has worsened inflation in the UK and will be remembered as a “historic” economic mistake, an esteemed US economist has said ...

The Guardian - UK

UK factories blame 16th month in a row of falling exports on Brexit barriers

Companies report trading with Europe is now more difficult as Larry Summers says exit from EU ‘contributed to higher inflation’

Newsroom.co.nz

Why you'll pay more interest on your mortgage – maybe forever

Reserve Bank analyses whether interest rates will need to be pegged higher longterm, to keep inflation down. Jonathan Milne reports.

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Zenger

Former Treasury Secretary Summers Criticizes IRS Provisions In Debt Ceiling Agreement

Summers opposes IRS funding cuts in debt ceiling deal, warns of future deficits and tax cheats' advantage.

Fortune

Jamie Dimon says the Fed should pause rate hikes, but also warns it’s a new era for the economy

Even as the Fed brightens on inflation, Dimon says to brace for more “volatility” ahead.

Zenger

Larry Summers Warns About The Use Of The 14th Amendment For Government To Pay Its Bills

Former Treasury Secretary Larry Summers warned the possibility of increase in inflation over the next several years.

Fortune

Larry Summers says the debt limit fight could shave $6 trillion from U.S. markets

Summers says the current debt limit debate has many similarities with the 2011 standoff that dealt a major blow to markets.

Zenger

First Republic Bank Fails As Former Treasury Secretary Larry Summers Warns The Consequences To Come

The failed bank was taken over by the FDIC and taken over by JPMorgan Chase A Month After Received A $30 billion deposit

Fortune

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Albert Edwards, an economist at the 159-year-old investment bank Société Générale, says corporate greed may call for the unthinkable: Price controls.

Zenger

The Fed Struggling With Building Renovations Amid Rise Of Inflation

Rise in interest rates as the central bank depends on tax dollars for maintaining building and infrastructure.

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