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Summers Fears Ukraine Crisis Could Blunt Inflation-Fighting Push

  • Ex-Treasury chief sees Russia conflict leading to stagflation
  • U.S. cannot afford sticking with unsustainable policy: Summers
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WATCH: Former U.S. Treasury Secretary Lawrence Summers says the Federal Reserve shouldn’t shift its policy stance due to the Russia-Ukraine crisis.Source: Bloomberg

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Former U.S. Treasury Secretary Lawrence Summers said it’s vital that the Federal Reserve isn’t swayed by the Russia-Ukraine crisis as a reason to hold off on adopting restrictive monetary policy in order to quell a decades-high pace of inflation.