Summers: ‘Disturbing’ Signs Fed Led by Internal Politics

Former Treasury Secretary Lawrence H. Summers says he is confused by the Fed's action at its June meeting. He speaks with Romaine Bostick on "Wall Street Week."
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[malanalan]

Makes sense. It was a compromise between doves and hawks. As usual federal reserve aims to please Wall street. That's what really disturbing is.

[ced]

Fed members making sure their and their WH and WS handler's portfolios will go up before making a decision.

[xxyyzz]

The fact that there was no dissent is even more troubling.

[dangood]

Ever since the “transitory” mistake, the Fed has been pretty solid

[ThePokersurfer]

Jerome Powell the worst Fed Chair that I've witnessed in my investment career. Markets are FORWARD thinking not backward hence their horrible timing of taming

[hRtkuojTtmk]

The Fed is merely pausing to give the lag effect of rate hikes some time to catch up. Makes perfect sense. Whether they should hike more or not is a different and separate debate and will remain to be seen based on what the economic data shows.

[curiouslymavismade]

The whole point of this meeting should be to review 1st and 2nd QTR performance, especially in consumer spending, and figure out how to increase consumer confidence moving forward into the second half of the year.

[cato]

I’ve been saying for three years: Jerome Powell is incompetent!!!

[wrstaats]

I am not a Jerome Powell fan whatsoever! He messed everything up in 2021 and he hasn't done anything to help this situation. We really need Lael Brainard or some who is a true economist to help at this time!

[backbay]

Oh jeez it's Larry Summers on TV yet again saying the same shit he's been saying for 40 years.

[ptupy]

We understand that you don’t understand. But what do you understand?

[st.charlesofaberdeen]

Enjoy your retirement and stop lecturing on television