Economics
Summers Urges Fed to Signal Four ‘22 Hikes to Regain Credibility
- Four increases might not be needed, depending on data, he says
- Summers says a ‘jolt’ is needed to restore Fed’s credibility
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Former Treasury Secretary Lawrence Summers said that Federal Reserve Chair Jerome Powell ought to signal the possibility of raising interest rates four times next year, in order to restore what he argues is the central bank’s lost credibility on fighting inflation.