Summers urges Fed to continue tightening, despite the impending "Collision"

The Federal Reserve needs to carry out the additional monetary tightening it has foreshadowed.

Even in the face of financial dangers brought on by its actions, according to former Treasury Secretary Lawrence Summers.

Summers stated on Bloomberg Television's "Wall Street Week" with David Westin that it is "a big folly to argue that somehow we shouldn't implement the monetary measures.

The possibility of a financially catastrophic incident exists.

However, I believe the likelihood of anything significant enough to cause the Fed to change course is actually fairly low.

The dollar has increased due to the Fed's three percentage point interest rate increases since the beginning of March.


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Recently, President Biden reduced student loan forgiveness.