Former Treasury Secretary Larry Summers Speaks on the Economy
In a stimulating fireside chat, Former U.S. Treasury Secretary Larry Summers goes deep into explaining conditions that have led to today’s rising inflation, what the policy makers may have gotten wrong and what likely lies ahead.
In an event hosted by the University of Miami’s Miami Herbert Business School, Summers was interviewed by Dean John Quelch and Professor Alex Horenstein to explore the variables that may lead to a cooling of the economy in the coming years.
Former U.S. Treasury Secretary, Larry Summers
Summers stresses the importance of the Fed in stabilizing our economy and the multitude of complicating factors that impact it. He points to the overheated market for workers and the upward pressure on wages that lead inevitably to higher prices, along with the accompanying low unemployment rate we are experiencing. He sees progress as COVID Omicron winds down, but is cautious in predicting what steps should be taken to motivate price stability and a cooling economy. Many will appreciate his personal take on Crypto and its attempt to go mainstream in the future.