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“OpenAI, Harvard, Bloomberg, NYTimes among institutions urged to cut ties with Larry Summers over Epstein emails” OpenAI, Harvard University, Bloomberg and the New York Times kept mum as they faced demands to cut ties with Larry Summers following revelations that the ex-Treasury Secretary exchanged emails with convicted pedophile Jeffrey Epstein. Summers, 70, was one of…
The move by market agency Fitch Ratings to downgrade the United States’s debt rating has startled lawmakers and policymakers alike, who said Wednesday that they were perplexed by the move amid strong recent economic indicators. In addition, news Wednesday that U.S. political instability reflected in the Jan. 6, 2021, insurrection at the Capitol was a…
What recession? Inflation, GDP offer hope for ‘soft landing’ Perhaps a 2023 recession can be avoided after all. Consistently falling prices alongside a stronger-than-expected fourth-quarter gross domestic product (GDP) and next week’s anticipated less aggressive interest rate hike from the Federal Reserve are changing economists’ tune and renewing hopes about the overall health of the…
“Larry Summers calls for more US job losses from ‘tropical paradise’” Larry Summers got roasted on social media after he said higher unemployment will be necessary to tame inflation in the US economy during a TV broadcast from what looked like a tropical beach resort. The former Treasury Secretary, now a Harvard University professor as…
“Congress should raise taxes to fight inflation ‘right now’” Congress is missing an opportunity to combat decades-high inflation by failing to implement tax hikes, former Clinton administration Treasury Secretary Larry Summers asserted on Friday. Summers, a frequent critic of the federal response to inflation, argued that lawmakers should consider raising taxes as another means of…
“Larry Summers says the Federal Reserve is wrong about economy” The Federal Reserve “lost its way” last year as inflation gripped American households and still isn’t being realistic about the impact it will have on the economy, ex-Treasury Secretary Larry Summers warned on Friday. Summers, who was far ahead of the Fed in predicting price…
“Larry Summers says steep joblessness needed to beat inflation” Former Clinton Treasury Secretary Larry Summers is defending his comments from last month in which he claimed that millions of Americans may need to lose their jobs in order for inflation to come under control. Summers, who has emerged as a chief critic of the Biden…
“Fed still ‘much too optimistic’ on inflation” Ex-Treasury Secretary Larry Summers warned that the Federal Reserve’s forecasts on inflation have been “much too optimistic” so far — and warned that the US economy is teetering on the edge of a recession. Summers, an early and frequent critic of the Fed’s response to surging inflation that…
“Larry Summers defends Biden from Bezos attack over inflation” Former Treasury Secretary Larry Summers defended the Biden administration Monday during its spat with Amazon founder Jeff Bezos – who has warred with the White House on Twitter after arguing that the president’s policies contributed to inflation. Summers, who has been critical of the administration’s handling…
“Biden still betting on windmill power instead of US oil” If Sleepy Joe Biden just didn’t trip over every other word, he could be much more effective in his divisiveness. That was the assessment after our president’s latest tone deaf, erratic, often nasty and definitely embarrassing display of economic ineptitude from a group of Wall…