by Ian Hanchett
Breitbart.com
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the “huge set of new private sector investments going on with respect to green investments and the IRA” will put upward pressure on interest rates.
Summers said that he finds the Federal Reserve’s belief “that the ultimate neutral rate is 2.6 to be bizarre in current circumstances. Here’s what we have relative to a few years ago, when they said it was 2.5: We’ve got fiscal policy in a much, much more expansionary place with much higher deficits, much larger role of debt.