Shots fired. Some digging around turns up recent comments from Larry Summers in which he was...
Jul 25 2013, 13:31 ET
Shots fired. Some digging around turns up recent comments from Larry Summers in which he was dismissive of QE's effectiveness and suggested he might tighten policy ahead of when a Bernanke or Yellen-led Fed might. "If we have slow growth, we are not going to keep thinking that 5.5% UE is normal ... that is going to operate in favor of suggesting that we should normalize interest rates (sooner) ... I think the market is underestimating the pace at which the Fed will alter its current course and the consequences of that for interest rates." It's reportedly down to Summers and Janet Yellen to replace Bernanke atop the Fed.