look like an former U.S. Treasury Secretary?
He's blaming "excessive pandemic relief", that's about as close as anybody has come to saying, "We printed to much $"
"Ultimately we’re going to need 4-5% interest rates, levels they’re not even thinking of as conceivable,” Summers told Bloomberg Television Friday. “They’re recognizing that they’re behind the curve. They’ve still got a long way to go.”
Now why on earth would The Fed think those levels (4-5%) are "not...conceivable"?
Who's been yapping about 4.5% makes us default on the interest payment on the National debt?
John 16:13
But when he, the Spirit of truth, comes, he will guide you into all the truth. He will not speak on his own; he will speak only what he hears, and he will tell you what is yet to come.
It's not me, it's the Holy Spirit in me saying what I am saying.
“If you want to tighten policy you have to raise interest rates by more than inflation went up,” Summers said. “We’ve got to raise interest rates by more than 4 percentage points, we’ve got to raise them by 4% to stay neutral and we probably have to raise them more than that.”
Queue Brother Brian somebody...
"It's not complicated!"
Probably? There is no probably here.
Unlike Fed chair Jay Powell, Summers doesn’t think inflation will fade on its own, at least not in the near term. “I don’t think we can count on the transitory inflation view,” he said.
They are the ones publishing the charts for goodness sakes! They ARE gonna just ignore 65 years of history? BRILLIANT!
Five Reasons to Value Studying the End Times
"They will promote a false narrative regarding what is happening—a deceptive narrative that will oppose the biblical narrative of what is unfolding across the nations."
Not Summers, Powell.
I love you honey :-).
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