Growth Isn’t What It Used To Be: Larry Summers
Larry Summers discusses secular stagnation, economic underperformance and the American psyche.
Despite strong stock market performance since 1999, many observers remain concerned about the recovery of the US economy. Larry Summers, former director of the national economic council under President Obama and former Treasury Secretary under President Clinton, addresses secular stagnation, economic underperformance and the American psyche in this exclusive conversation with Ron Insana, CNBC contributor and host of The Market Scoreboard Report. Summers says those who are predicting inflation or even hyper-inflation, because of the Fed’s policies, were wrong five years ago, are wrong today, and will continue to be wrong. Growth isn’t what it used to be, and inflation is not an economic risk to worry about, he insists.
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