News list for "summer"
On February 20, local time on February 20, the Russian Central Bank announced the official exchange rate of the ruble against the US dollar. On February 21, the official exchange rate was 88.51 rubles per US dollar, which rose above 90 for the first time since September last year. Since June 13, 2024, affected by sanctions, the Moscow Exchange announced that it would no longer use the US dollar and the euro for foreign exchange and precious metals transactions.
Four years after former US Treasury Secretary Lawrence Summers accused US fiscal and monetary policymakers of over-stimulating and potentially triggering the biggest inflation blowout in a generation, he warned of the danger of renewed price pressures. "This is probably the most sensitive moment for inflation escalation since the policy missteps of 2021 triggered severe inflation," Mr. Summers said. "This is a moment where we have to be very careful about inflation, even before you see the polic...
Summers believes that Trump's tariff policy goes against economic logic and will result in higher prices for producers and consumers...
Former Treasury Secretary Larry Summers said in an interview that Trump's tariffs defy economic logic, meaning higher prices for consumers and much higher input costs for American producers. Summers questioned: Why are we now deciding to wage economic war against Canada, out of so many countries in the world? Canada has a higher minimum wage, a higher basic wage, and more union protections for workers than the United States. I just don't understand the logic of these policies, no doubt,...
Lawrence Summers, who served as Treasury secretary under Bill Clinton, argued that Mr. Trump's public statement that he "wants to see [interest rates] come down significantly" was a public intervention by the government that "could easily backfire and the Fed would not follow its advice". Mr. Summers added: Unless the financial marekt boom collapses, it will be difficult for the Fed to cut interest rates as much as expected. The Fed itself is eager to play down tensions with the White House. Mr....
John Thune, the incoming Senate majority leader, said he hoped to have a comprehensive tax policy package in place by the summer, but acknowledged it would take some time to agree on changes to the complex tax code. Mr. Thune said failure was not an option when it came to taxes. According to Mr. Thune, the complex issues facing the tax reform bill include what benchmarks to use, whether to make the tax cuts permanent and what should be offset.
Summers rejected the idea of building a reserve of bitcoin assets and warned that Musk's plans to scale back federal spending would face political challenges.
Lawrence Summers, a Democrat and former US Treasury secretary, has dismissed the idea of a US government reserve of bitcoin assets and warned of political challenges to scaling back federal spending as planned by Mr. Musk, America's first buddy. Lawrence Summers said on the TV show: "What some people are saying, 'The idea that we should build some kind of national bitcoin reserve' is crazy."
U.S. Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger delivered a speech at the North American Blockchain Summit, calling for the development of cryptocurrency standards policies through a formal notification and deliberation process. Mersinger said there are problems with regulators' current "enforcement-style regulation" approach to the cryptocurrency industry, specifically mentioning the case of Uniswap Labs. She emphasized that the CFTC is "a cryptocurrency cash mark...
Former US Treasury Secretary Summers said that if President-elect Trump follows through on his promises, the United States will once again experience a severe inflation crisis. Summers pointed out that Trump's promised domestic tax cuts, higher tariffs and deportation of illegal immigrants would have a severe impact on the US economy. "If he sticks to the plan he promised during the campaign, the country will suffer a bigger inflationary crisis than it did in 2021."
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