Lawrence Summers

Former Treasury Secretary Lawrence Summers has expressed hope the debt ceiling agreement between President Joe Biden and House Speaker Kevin McCarthy would pass Congress but indicated he is skeptical about the provisions regarding the Internal Revenue Service (IRS). "I am glad that the #...

Former Treasury Secretary Lawrence Summers reportedly said it’s not right to kidnap and hijack the financial credibility of the United States to make a point about deficit and fiscal policies. "So the right thing to do is to move on with this. And look, the people who say we have got real...

Former Treasury Secretary Lawrence Summers reportedly said the new debt ceiling deadline of June 1 is unwelcome, but not unexpected and that "we just have to rely on fear to do the work of reason." What Happened: "We knew that this day would come. We have seen for the last few weeks tax collections...

Japan’s top brokerage Nomura has reportedly projected the Federal Reserve will cut interest rates next week and will halt quantitative tightening as policymakers evaluate financial stability risks in the wake of the Silicon Valley Bank collapse. What Happened: Nomura analysts had earlier...

Certain Republicans have been calling for the abolition of the Internal Revenue Service (IRS). The 160-year-old federal agency, which oversees federal tax collection in the U.S. and implements tax laws, has been recently plagued with issues, including a reduction of workforce and budget constraints...

Former Treasury Secretary Lawrence Summers said on Friday that the Fed’s job in corralling inflation is closer to being done, and also mentioned one important imminent macroeconomic indicator to monitor. What Happened: The good part of the news is that there has been some wage...

Last month, Blockworks hosted its Digital Asset Summit (DAS) at the Royal Lancaster Hotel in London, England. During this event, builders, financiers and enthusiasts gathered to speak about the new world of finance and cryptocurrency that’s still developing. At the time, the markets were...

Student loan forgiveness has become a reality for the roughly 48 million Americans currently in debt. President Joe Biden said in a speech on Wednesday the student loan payment moratorium would be continued for one final time through Dec. 31. Americans who have loans owned by the...

The gap between Black and white unemployment has persisted for decades in the U.S. The Economic Policy Institute, a think tank dedicated to laborers, wants to change that. Its proposal: run the economy hot, giving more attention to unemployment rather than inflation and thereby helping...

Famed economist and President Emeritus of Harvard University Lawrence Summers was a guest on CNBC's "Squawk Box" segment on Wednesday to offer his expert take on President-elect Donald Trump's economic policies. Flaws In Trump's Infrastructure Plan One of Trump's main economic policies was to spent...

The cover story in this weekend's Barron's took a look at the outcome of the 2016 Midyear Roundtable. The panel of market experts offered 24 smart investment ideas and predictions for the rest of the year. Another article pondered whether a Trump presidency would be good, bad or neutral for the...

While most analysts and money managers expect the Federal Reserve to raise rates, even by 25 basis points this year, former Treasury Secretary and Harvard President Emeritus Lawrence Summers thinks the time is still not right. Summers was on CNBC recently discussing why raising rates early...

The Federal Reserve will begin its two day meeting today, at which most are expecting to see the bank begin to taper its stimulus program by $10 to $15 billion and maintain current interest rates. The Fed is also expected to reiterate its forward guidance, with a 6.5 percent unemployment...

The dollar fell against the euro on Monday morning after news that the former Treasury Secretary Lawrence Summers dropped out of the race to become the new Federal Reserve Chairman in January. The euro traded at 1.3363 at 6:30 GMT on Monday morning. Summers was recommended along with Fed Vice...

Brent crude oil slid below $111 on Monday morning and traded at $110.74 at 7:00 GMT. Prices tumbled after a deal between Russia and the US called off military action in Syria and eased concern about a supply interruption in the Middle East. CNBCreported that over the weekend, US Secretary of State...