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."
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."
Inflation could lead the Federal Reserve to cut interest rates less than expected in the coming years, according to Mr. Summers, the former Treasury secretary. "On the monetary policy front, the Fed faces the risk of higher inflation if it is to actually cut rates as much as it expects," he said. Fed policymakers' latest dot plot forecast for the median federal funds rate at the end of next year is 3.4 per cent, or 150 basis points on top of Wednesday's 50 basis point cut. Mr. Summers said that ...
Mr. Summers, the former Treasury secretary, said that while the August non-farm payrolls report was not particularly bad, it did make it harder to predict how much the Federal Reserve might cut interest rates this month. "The data, while not showing very significant weakness, certainly won't give you a sense of relief if you're concerned about recent statistical trends," Mr. Summers said in an interview.
Former U.S. Treasury Secretary Summers said that although the Federal Reserve failed to act quickly to deal with the 2021 inflation surge, setting a "low point" in its monetary policy history, it ultimately did enough to correct the economy. "I have to commend the Federal Reserve... While it's not always obvious, they acted strongly and forcefully enough to keep inflation expectations stable," Summers said. Summers said:...
According to X user @SummersThings, Form 19b-4 of the VanEck and 21Shares Solana ETFs appears to have been removed from the CBOE website. The files SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067 can no longer be accessed through direct links, and are no longer visible in BZX Pending Rule Changes. It added: "Another interesting thing is that both applications were filed on July 8, but the SEC never issued Notices of Filing for them. Does this mean that 19b-4 was withdrawn?"
据 X 用户@SummersThings 披露,VanEck 和 21Shares Solana ETF 的 19b-4 表格似乎已从 CBOE 网站上移除。 文件 SR-CboeBZX-2024-066 和 SR-CboeBZX-2024-067 不能再通过直接链接访问,并且在 BZX 未决规则更改(BZX Pending Rule Changes)中不再可见。 其还称:“另一件有趣的事情是,这两份申请都是在 7 月 8 日提交的,但 SEC 从未为它们发布过备案通知(Notices of Filing),这是否意味着 19b-4 被撤回了?”
Summers, the former US Treasury secretary, recently told Bloomberg Television's Wall Street Weekly that "engaging politicians is a stupid game" and that "the end result is higher inflation and a weaker economy." Summers warned that any presidential influence on U.S. monetary policymaking would ultimately hurt the economy. Administration officials "always want to print more money and reduce...
Lawrence Summers, the former US Treasury secretary, has warned against allowing the president to interfere in monetary policymaking or it will only end up hurting the economy over time. "It's a stupid game to get politicians involved," Mr. Summers said on Friday, "and the end result is higher inflation and a weaker economy." Mr. Summers' comments came a day after Republican presidential candidate Donald Trump said he believed the president should be in charge of Federal Reserve policymaking.
Former U.S. Treasury Secretary Summers has called on the Securities and Exchange Commission (SEC) and related exchanges to investigate Monday's spike in the VIX index. "My understanding is that Monday's volatility in the VIX index was somewhat artificial due to the use of illiquid tools in calculating the index," Summers said on a television program on Friday. After Monday's spike in the VIX index, volatility experts said the wild swings in the index could have been caused by several technical f...
Lawrence Summers, the former US Treasury secretary, has warned against allowing the president to intervene in monetary policymaking or it would only end up hurting the economy over time. As for the Fed's policy decisions, the former Treasury secretary said any emergency rate cut was untenable "in terms of the facts at hand" given that market volatility and stock market declines had eased since Monday's turmoil. Still, Mr. Summers said a "50 basis point cut" at the September policy meeting would ...