Summers Disagrees with Krugman on Fed’s Inflation Risk

Former U.S. Treasury Secretary Lawrence H. Summers says he disagrees with fellow economist Paul Krugman’s argument that the Federal Reserve should bide its time before raising interest rates because inflation will prove transitory and it’s not worth risking a recession. Summers says the U.S. October jobs report underscores price concern and does not think we have think participation is going to rally in a major way. He spoke with Bloomberg’s David Westin on Bloomberg Television’s “Wall Street Week.”
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