Summers steps up attacks on Fed inflation stance
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Policy ‘pivot’ can deliver soft landing, says NBER paper
Authors aim for more realistic model of expectations through “level-k thinking”
Thai PM meets governor after unexpected rate rise
BoT said new government’s spending package is an inflation risk, as currency falls
More rate hikes may be needed, says Bundesbank’s Nagel
German governor has a soft landing as his baseline scenario
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
FOMC members express different views for policy path forward
Bowman and Kashkari expect further rate hikes but Daly is less certain
Will the ECB take its key rate past 4%?
French and Spanish governors say policy is working, but Nagel warns pace is too slow
Colombian policy-makers clash over rates
Finance minister wants “very small” rate cut, but central bank board member disagrees
Turkey raises policy rates for fourth consecutive time
Foreign exchange rates little changed, despite president’s commitment to tight monetary policy