SLOWING: What world is he living in exactly? Larry Summers complains that “the Fed’s been trying to put the brakes on, and it doesn’t look like the brakes are getting much traction.” Really? Inflation seems to be coming down, money supply growth has turned negative, and last week’s LEI report makes it looks like the economy is barreling toward a recession. That seems like a lot of traction to me. Maybe too much! Larry should probably stop overthinking things.
Larry Summers is kidding himself
By Thomas K. Brown,
SLOWING: What world is he living in exactly? Larry Summers complains that “the Fed’s been trying to put the brakes on, and it doesn’t look like the brakes are getting much traction.” Really? Inflation seems to be coming down, money supply growth has turned negative, and last week’s LEI report makes it looks like the economy is barreling toward a recession. That seems like a lot of traction to me. Maybe too much! Larry should probably stop overthinking things.