Summers warns Fed against ‘financial dominance,’ urges rate hike
Lawrence “Larry” Summers, former U.S. Treasury secretary.Kiyoshi Ota/Bloomberg Former Treasury Secretary Lawrence Summers said the Federal Reserve shouldn’t be spooked into easing its campaign to contain inflation out of excessive concern about a credit crunch in the wake of the recent banking turmoil. “It would be very unfortunate if, out of solicitude for the banking … [Read more…]