Larry Summers predicts Fed will need to raise interest rates more than market anticipates ...Middle East

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Larry Summers predicts Fed will need to raise interest rates more than market anticipates
source : The Hill ( Middle East ) () 54
Former Treasury Secretary Larry Summers said the Federal Reserve will likely need to raise interest rates more than the market anticipates as prices remain high but grew at slower rates in October.  Summers told Bloomberg Television’s “Wall Street Week” with David Westin that the economy has a “long way to go” before inflation is under control.  “My sense is that inflation is going to be a little more sustained than what people are looking for,” he said.  The Fed has raised interest rates by 0.75 percentage points four times in a row in successive meetings, but Chairman Jerome Powell said it will likely raise it by a smaller amount at its meeting later this month.  Still, he s

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