Larry Summers: There's 'No Compelling Case' for September Rate Hike

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Sept. 15 -- Larry Summers, president emeritus of Harvard University and former Treasury Secretary, discusses next week's FOMC meeting and the timing of the next Fed rate hike. He speaks to Bloomberg's David Gura on "Bloomberg Markets."
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If you consider the possibility, that the FED; follows rates in the market and does not set them. Then Larry is right here. The FED should not raise rates until they see some evidence of a market rate, which would be corroborated by prices going up over time? If market participants believe that a good or service will be cheaper or the same price in the future, as it is today, why would they buy it today? Why would you charge somebody for the use of your money, if you believe that money will be able to buy more in the future than it buys today? Hence, interest rates are already effectively nothing, and the FED just follows along with that.

BrisLS
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I'm sorry no. The current rate isn't going to be able to fix a possible minor reccession if it hits, and though yes, debt obligations have been losing some of the highs of the last two years, I do think that it's about time to start to gradually hike the rate every few times a month by a fraction of a percent since we have enough evidence of a stable labour market.

NA-klcn
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we still believe him after what he has done for us ?

GeraltBosMang