Lawrence H. Summers
@LHSummers
Charles W. Eliot University Professor and President Emeritus at Harvard. Secretary of the Treasury for President Clinton and Director of NEC for President Obama
ID:236526490
http://larrysummers.com 10-01-2011 20:00:04
8,1K Tweets
314,0K Followers
697 Following
Follow People
I’m not really sure we’re a 2%-target-inflation country in any durable sense. To declare that proverbial ‘soft landing’ to have taken place seems to me to be premature. I’d certainly say it looks better and more likely than it did six or eight months ago.
bloomberg.com/news/articles/……
I think there's still a risk that the market is probably underestimating: that we're not going to quite make as much progress on inflation as people hope, and there's not going to be quite as much room for Fed easing as people hope.
bloomberg.com/news/articles/… via Bloomberg Economics
The current market view that we will have a soft landing and the Federal Reserve will be able to cut rates by 100 basis points over the next year strikes me as possible, but it is not at the centre of my expectations.
Financial Times 's Unhedged newsletter:
ft.com/content/59fff6… via @ft
Earlier Peterson Institute research shows another way trade restrictions reduce incomes: adding to inflation. Removing Trump's trade war and steel tariffs would reduce inflation by 1.3 percentage points, saving the average US household nearly $800.
foreignaffairs.com/articles/unite… via Foreign Affairs