Lawrence H. Summers is President Emeritus and Charles W. Eliot University Professor of Harvard University. During the past two decades he has served in a series of senior policy positions, including Vice President of development economics and chief economist of the World Bank, Undersecretary of the Treasury for International Affairs, Director of the National Economic Council for the Obama Administration from 2009 to 2011, and Secretary of the Treasury of the United States, from 1999 to 2001.
Housing inflation in the US before 1983 was measured in a way that made the Consumer Price Index (CPI) mechanically responsive to Fed policy, leading to artificially high peaks and fast d...
The Federal Reserve will likely soon learn what gymnasts already know: sticking a landing is hard.
With US inflation reaching 7.9% in February 2022, the Federal Reserve moved to increase the federal funds rate by 0.25 percentage points at its March meeting. The Federal Open Market Comm...
The world’s central bankers and the scholars who follow them are having their annual moment of reflection in Jackson Hole, Wyoming. But the theme of this year’s meeting, “Challenges for M...
More than eight years have passed after the Global Crisis started, and GDP is still very far from its pre-crisis trend in all advanced economies. No current forecast suggests that this ga...
Last week, I spoke in Houston at a forum sponsored by the Dallas Federal Reserve. Inevitably given that I was at the Fed, the topic turned to monetary policy. On monetary policy, Dallas ...
Harvard's Mossavar Rahmani Center for Business and Government, which I am privileged to direct, has just issued an important paper by senior fellow Peter Sands and a group of student coll...
This morning, I delivered keynote remarks at the release event for the Global Health Risk Framework Commission report on “The Neglected Dimension of Global Security: A Framework to Counte...
