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The Latest Breaking News from Larry Summers

"The history of developed countries since 1970 is very discouraging about the prospects of bringing down 8 percent inflation," says Larry Summers.

Reason

How Biden changed his tune on inflation as prices soared and the midterms loomed

At first, the White House said inflation would be a temporary issue. But it quickly became the top economic priority — and major source of midterm political pain — for President Biden.

WEKU

Larry Summers Calls Terminal Rate Crossing 5% 'A Milestone:' What He Says About Potential Of Further Rise

Former Treasury Secretary Lawrence H.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

Hot Inflation Numbers Could Crater Stocks 5% — And Larry Summers Says Prices Aren't Dropping Any Time Soon

The Consumer Price Index (CPI) data for September will be reported on Oct. 13 by the U.S. The Bureau of Labor Statistics. Analysts at JPMorgan Chase & Co and former U.S. Secretary of the Treasury Larry Summers weighed in on what is happening and what could happen.

Benzinga

Larry Summers wants to spend trillions on climate

The former Treasury secretary is looking for the World Bank to increase its lending

Axios

Larry Summers Says Sense Of Saudi-Russian Collaboration 'Can't Be Happy One For Americans'

Former Treasury Secretary Lawrence H.

Benzinga

Markets treating UK like ‘developing country’ after Kwarteng budget, warns ex-US Treasury chief

Current turmoil ‘hallmark of situations where credibility lost’, says Larry Summers

The Independent UK

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Can Larry Summers please shut up now?

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

Salon

Democrats in battleground races criticize Biden student loan plan

It's a sign of fears that the plan could alienate swing voters in November.

Axios

Biden's Student Debt Relief Plan Will Worsen Inflation

"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman

Reason

Biden faces new political risks in student loan plan

He risks leaving progressive and working-class Democrats unsatisfied.

Axios

Clive Crook: Want a better IRS? Simplify the tax code

One of the most conspicuous parts of the tax-and-spending package known as the Inflation Reduction Act is vastly expanded funding for the Internal Revenue Service. The promised flood of cash — an additional $80 billion over 10 years, compared with baseline annual spending of around $15 billion — raises some…

Tribune News Service

Biden gets big economic win as inflation threatens legacy

WASHINGTON — President Joe Biden raised the final pillar of his economic agenda with the Senate’s passage of a breakthrough climate and tax package, sealing a legacy that risks being undermined by an inflation surge he’s blamed for sparking.

Tribune News Service

Senate will take up Democrats' tax, climate and health bill on Saturday, Schumer says

Senate Majority Leader Chuck Schumer has repeatedly said Democrats are on track to pass the Inflation Reduction Act in the coming days, but a few roadblocks still stand in the way.

WEKU

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Reason

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

Reason

Inflation Hits 9.1 Percent, Highest Level in 41 Years

Inflation picked up speed in June, rather than slowing.

Roll Call

Sanders, Graham square off on climate, gas prices in debate - Roll Call

Sens. Bernie Sanders, I-V.t., and Lindsey Graham, R-S.C. sparred over rising gas prices during a Monday debate.

The Independent UK

Former Treasury secretary warns recession is ‘more likely than not’ in next two years

Larry Summers took issue with current Treasury Secretary Janet Yellen’s assessment of recession risk

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news in one place.

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WEKU

The job market stays red-hot with the unemployment rate near a pre-pandemic low

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

Reason

Biden Says Fighting Inflation Is His Top Economic Priority. His Antitrust Policy Would Make Inflation Worse.

Attacking big firms just for being big could drive up prices.

Axios

Larry Summers' new inflation target: Biden's "hipster" antitrust policies

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

The Independent UK

A Bezos-Biden squabble: Can corporate taxes tame inflation?

Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet by President Joe Biden about corporate taxes as “disinformation” and “misdirection.”

Reason

COVID Stimulus Checks Worsened Inflation

Four economists at the Federal Reserve say America's high rate of inflation relative to the rest of the world is the result of surging disposable income during the pandemic.

The Independent UK

Analysis: Biden finds inflation overshadows strong economy

President Joe Biden is paying a steep price for high inflation

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