Larry Summers Says Inflation Is The Biggest Risk For US Economy As Fed Cuts Rate By 25 Bps: Report
Synopsis
In an interview with Bloomberg, Summers said the current monetary policy and signaling of the Federal Reserve is a bit on the “loose side.”
Former Treasury Secretary Larry Summers reportedly stated on Thursday that the biggest risk to the U.S. economy is not the job market, but inflation.
In an interview with Bloomberg, Summers said the current monetary policy and signaling of the Federal Reserve is a bit on the “loose side,” and that the balance of risks is tilted more towards inflation than unemployment. This comes after the Fed announced a 25-basis-point interest rate cut on Wednesday.
“I think we’re a bit on the loose side with respect to monetary policy and monetary policy signaling. But that’s very much a difference of degree,” Summers said in the interview.
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