Former U.S. Treasury Secretary Lawrence Summers said increased government spending offered greater reward than Federal Reserve bond purchases as authorities seek to boost growth in the world’s No. 1 economy.
Federal Reserve Chair Janet Yellen is generally taking the right approach in continuing efforts to boost a tepid U.S. economic recovery, former U.S. Treasury Secretary Lawrence Summers said in an interview airing today.
Reforming the tax code to eliminate tax loopholes used by the wealthiest Americans would help narrow the income gap between the rich and the rest of the society, according to former U.S. Treasury Secretary Lawrence Summers.
U.K. Chancellor of the Exchequer George Osborne and former U.S. Treasury Secretary Lawrence Summers sparred over how much governments can spur investment, reviving the debate over the virtues of austerity.
When President Barack Obama dropped by Lawrence Summers’s going-away party in 2010, he presented his National Economic Council director with a pair of suspenders, a gag gift to help Summers hold up his perpetually sagging trousers.