About a year ago, former Treasury secretary Larry Summers gave his famous speech at the IMF about "secular stagnation." The basic idea behind secular stagnation is that the economy in its current condition is unable to create enough demand to sustain its growth trend, requiring negative interest rates for the Fed to hit its employment and inflation goals.

BING NEWS:
  • Charlotte unicorn Palmetto adds former U.S. Treasury Secretary Larry Summers to advisory board
    The Charlotte company also has several celebrity backers such as Arnold Schwarzenegger, Billie Eilish, Drake and LeBron James.
    04/23/2024 - 6:26 am | View Link
  • How a climate tech founder is growing his advisory board, including Larry Summers
    Palmetto CEO Chris Kemper has looked to his company’s advisory board as a way to help navigate the ever-changing clean energy industry.
    04/19/2024 - 11:16 pm | View Link
  • Jamie Dimon, Larry Fink, other market giants bat for 'higher-for-longer' interest rates amid hot US inflation
    Given the rise in price pressure, the possibility of interest rate cuts before summer end or at any point in 2024 has diminished significantly ...
    04/16/2024 - 1:43 am | View Link
  • Larry Summers and Natasha Sarin on U.S. economy, tax policy and national debt
    With nearly $3 trillion of tax cuts slated to expire next year, there are renewed questions about the future of the U.S. tax code and how the American economy can grow in fiscally responsible ways. On ...
    04/16/2024 - 12:01 am | View Link
  • The stock market's best-case interest rate scenario is in tatters after March CPI
    Not only are the number of rate cuts dwindling among bank forecasts, but Larry Summers warns the odds of another hike have risen after March CPI.
    04/11/2024 - 3:55 am | View Link
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