Summers Says Fed Policy ‘On the Loose Side,’ Inflation Top Issue
Former US Treasury Secretary Lawrence Summers has expressed concerns about the Federal Reserve's monetary policy, stating that it is currently "on the loose side." Summers emphasized that the primary issue facing the US economy is inflation, rather than the job market. Summers highlighted that the Fed's policy stance is contributing to inflationary pressures, which he believes pose a greater risk than employment challenges. He warned that the central bank's actions should focus on tackling high inflation, which he considers the top priority for the US economy. The former Treasury Secretary's comments come as the Fed grapples with the challenge of achieving a balance between supporting economic growth and controlling inflation. Summers' remarks underscore the ongoing debate surrounding the appropriate monetary policy response to the current economic conditions in the United States.
Source: For the complete article, please visit the original source link below.
