Summers: Fed Recovered From Egregious Inflation Mistake
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- čas přidán 12. 09. 2024
- Lawrence H. Summers, Former US Treasury Secretary and Wall Street Week contributor, says that the Fed should not have been surprised by supply side shocks that led to inflation in 2021, but praises Chair Powell's recovery in the face of a monetary policy mistake.
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We read about colleges closing because people don't want higher education,and because of the high cost. It is very concerning. Competition from China is not going to go away. Tariffs will push up costs and our taxes and do little else.We need strong manufacturing. Biden-Harri's infrastructure,semiconductor and climate bills were all historic. They have been so successful, Kamala should put them on steroids. The goal should be to produce gdp growth,as biden-harris have.
? Summers didn’t say it at all
OPPORTUNITY !!! Yes!
Inflation is impossible, absolutely impossible now and today, to accurately predict. Mistakes are Inevitable completely....
Summers was WRONG with his projection, because he had no idea a follow-on strain of COVID would keep labor restricted longer & had no idea Putin would invade. If those exogenous shocks hadn't happened in late 21, early 22, the inflation rebound would have been more transitory.
Well I doubt Putin himself knew he would invade, the Russian army was not exactly ready for it and loss the critical first few weeks and total humiliation. So Russia was clearly not prepared for war.
using big words doesn't make you smarter
Wont be hired by Trump 😂
This dude looks like a heart ♥️ attack
Not a word about how the deficit, fiscal dominance and quantitative easing were the main causes for inflation... not a word about Harris' proposals for price control and continuous economic subsidies to households, and their harmful consequences for the economy.
@@Tropper73 he referred to it since Harris has said taxes need to raise for certain sectors to reduce deficit. She’s been pretty clear that deficit needs to be included in policy
Lol does it look like markets were ever tight? All time highs hmmm? Always looks like a soft landing then it isnt.
Summers just say outright that you support Harris. This proves that separating politics from Fed policy is not possible. The two are always intertwined.
The first sentence in your post is probably correct, but everything else is not just wrong, but irrelevant.
We absolutely need to address price gouging and build millions of homes, passing laws if needed to overcome nimbyism.
a single family home in california costs 1.4 million. young folks and couples earning a middle class income should be able to again buy a home.
A big source of frustration for me is nearly half the country, supporting Trump, does not appreciate the value of education,including higher education, and helping all kids, in particular poor kids, come up somehow-through all sources of support, government and family. Democrats absolutely get it. For all their differences Larry Summers and Paul Krugman totally agree about helping poor kids through government. Because of destructive far right politicians like Trump do the opposite.His supporters denigrate public schools and higher education. To compete in America today, and in the global economy, and to qualify for well paying jobs, kids have to learn,cooperate and compete. We also need millions of skilled workers, if not everyone wants to go to college-plumbers,construction workers,electricians and more. Kamala Harris absolutely gets it.She talked about promoting AI and space technology,essentially technology. To do that we need high quality and low cost education from kindergarten through college,with opportunity to learn for anybody who wants it, and eventually great job opportunities-in the corporate world and in academic research.
Trump is very destructive to education and public schools
YOU LIE!
Woohoo! Another FED success. Wealth transferred from poor to rich. New cycle to begin soon.
trump talked about 'infrastructure week'.it was just a reality tv show like the apprentice. he talked about 7 percent gdp growth,and delivered 20 percent unemployment, and negative gdp growth. Biden-Harris delivered historic infrastructure,semiconductor and climate bills and high gdp growth.Inflation is low.Unemployment is low.