Summers steps up attacks on Fed inflation stance

Larry Summers
Larry Summers
Photo: Kevin Moloney/Fortune Brainstorm TECH

Former US treasury secretary Lawrence Summers told an Atlanta Fed conference on May 18 that the Fed has been “complacent” about rising inflation rates. He said the Federal Open Market Committee was ignoring economic indicators and failing to appropriately pre-empt price increases.

Summers, who was Treasury Secretary between 1999 and 2001, condemned the FOMC’s repeated indications that it would not raise the policy rate any time soon. “I believe that the serenity that is being projected with

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