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Larry Summers: Fed should impose 1 percent rate hike amid ‘serious inflation problem’

Ex-Treasury Secretary Larry Summers suggested the Federal Reserve should consider a full-percentage-point rate hike after August’s inflation report came in worse than expected in Tuesday. The August Consumer Price Index showed an 8.3% spike for headline inflation and a 6.3% surge for core inflation,...

US feels heat as 26 cities report hottest summers ever — on par with 1936 Dust Bowl

Man, it was a scorcher.  The 2022 summer has been one of the hottest seasons ever with records set across the country, Fox Weather reported. Data from the Southeast Regional Climate Center (SERCC) showed the average temperature nationwide was around 74 degrees, putting it on...

Larry Summers defends stance student loan debt relief is inflationary

Ex-Treasury Secretary Larry Summers rejected popular rebuttals to his criticism of sweeping student loan relief on Tuesday, one day after he warned in a viral Twitter thread that debt cancellation would make inflation even worse. Summers expanded on his views even as President Biden...

Larry Summers: Student debt forgiveness will make inflation worse

Famed economist Larry Summers warned Monday that the Biden administration could make the current inflation crisis worse if it goes too far with student debt forgiveness initiatives. Summers, a former top economic official in the Clinton and Obama administrations, called for caution as reports...

Larry Summers urges Fed to admit unemployment will rise, end ‘confusion’

The Federal Reserve is causing “confusion” among investors by avoiding a clear declaration that unemployment is likely to rise during its fight against inflation, according to ex-Treasury Secretary Larry Summers. Summers, a frequent critic of the Fed’s handling of inflation, detailed his concerns as...

5 Seconds of Summer’s Ashton Irwin has stroke symptoms mid-show: ‘Tears in ambulance’

Five Seconds of Summer stopped midway through their set during a Woodlands, Texas, concert on Sunday after drummer Ashton Irwin experienced “symptoms of a stroke” brought on by heat exhaustion. According to fans on TikTok, crew members carried the 27-year-old Australian musician off the stage...
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