Mar

26

Towards the end of a verbose survey of contemporary doomology in today's Financial Times, Larry Summers offers his policy nostrum.

If, as may prove the case, the dominant economic concern becomes a shortage of demand, it is incumbent on the Fed to provide stimulus so as to maintain conditions for growth and financial stability. 

Daniel Grossman adds:

The recent spate of Larry Summers' economic/market pronouncements is probably an attempt to burnish his image as a prestigious consultant to hedge funds and financial firms. Moreover, it might be to signal his interest in leaving the Harvard that denigrated him in favor of a leading cabinet post in a future Democrat administration.

It appears one can talk one's personal availability book as effectively as one's investment book.


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