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.
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.
Lawrence Summers’s personal website includes two biographies and traces his career from Harvard University president to director of President Barack Obama’s National Economic Council. The site says he’s now teaching at Harvard and serving on corporate and nonprofit boards.
Investors are increasingly seeking advice on how the potential nomination of Lawrence Summers as chairman of the Federal Reserve instead of Vice Chairman Janet Yellen might influence monetary policy and financial markets.
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.