Central Banks
Summers Gives Lagarde an A+, Urges Fed Rate Increase Next Week
- Former Treasury secretary speaks after ECB raised rates
- Forecasts are divided on Fed’s rate decision next week
Larry Summers
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Former Treasury Secretary Lawrence Summers praised European Central Bank President Christine Lagarde for raising interest rates by a half percentage point Thursday and said the Federal Reserve should follow with its own, smaller, move next week.
“Lagarde gets an A+ today,” said Summers, a Harvard University professor and paid contributor to Bloomberg Television.