Summers Urges Faster Fed Taper on ‘Disturbing’ Inflation Data

Former U.S. Treasury Secretary Lawrence Summers urges a faster wind-down of the Federal Reserve’s $120 billion a month bond-buying program, given evidence of persistently high inflation after the latest consumer price index report. The Former Harvard University President also says managers of the school’s endowment must conduct ‘some soul searching’ after returns fell short of peers in the latest fiscal year. He spoke with Bloomberg’s David Westin on Bloomberg Television’s “Wall Street Week.” (Source: Bloomberg)