Former Treasury Secretary Larry Summers says more rate hikes may be needed to kill inflation despite a banking crisis
Former Treasury Secretary Larry Summers said more interest-rate increases may be needed to bring down inflation despite a banking crisis in the US.
"I probably would have allowed more room for concern about inflation and left the door a bit more open to multiple rate hikes, given the strength of the recent inflation data" SummersNevertheless, Summers voiced support for the Federal Reserve's latest interest-rate decision."This was the right choice.
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