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Summers Sticks With Fed Criticism, Laments New Climate Policy Focus

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Summers Sticks With Fed Criticism, Laments New Climate Policy Focus

Lawrence Summers, a former Treasury secretary and economic adviser to Democratic presidents, argued again on Tuesday the Federal Reserve’s current monetary policy outlook risks serious trouble, and criticized the central bank’s newfound interest in climate change.

Mr. Summers, also once a contender to become Fed chairman, said the central bank’s very easy policy settings and its decision last year to hold off on raising interest rates until inflation arrived, rather than acting to deal with a theoretical threat, may allow…

Published at Tue, 18 May 2021 19:03:00 +0000

https://www.wsj.com/articles/summers-sticks-with-fed-criticism-laments-new-climate-policy-focus-11621364630?mod=pls_whats_news_us_business_f