Larry Summers

President Donald Trump is facing a lawsuit over the 20% tariffs imposed on Chinese goods. This marks the first known legal challenge against these tariffs. What Happened: The lawsuit, filed on Thursday, challenges Trump’s use of the International Emergency Economic Powers Act of 1977,...

Former Treasury Secretary Larry Summers said on Thursday that President Donald Trump‘s tariffs will cause an “oil crisis-like shock” to the economy, simultaneously spiking prices and unemployment while shrinking productive capacity. What Happened: Summers told Bloomberg Television...

Former Secretary of the Treasury Lawrence H. Summers, also known as Larry Summers, described the tariffs imposed by President Donald Trump as the “most expensive and masochistic” move by the U.S., which could roil the economy, erasing trillions of dollars. What Happened: Summers...

Leading economists reacted with alarm after President Donald Trump announced sweeping new tariffs on U.S. trading partners, with some projecting potential economic losses of up to $20 trillion. What Happened: “Monstrously destructive, incoherent, ill-informed tariffs based on fabrications,...

Economist Craig Shapiro has said that the Federal Reserve has been “gaslighting the public,” after the President of the Federal Reserve Bank of Richmond, Tom Barkin said Thursday that inflation is not “de-anchored”. What Happened: Barkin, while speaking to the reporters...

Former Treasury Secretary Larry Summers warned on Thursday that President Donald Trump‘s tariff policies are creating a “self-inflicted wound” on the U.S. economy, pushing inflation up while threatening growth. What Happened: “We should be focused on the fact that we had a...

After the Federal Reserve Board and Federal Open Market Committee released their economic projections following the FOMC meeting on Wednesday, David Rosenberg issued a strong warning about a potential recession. What Happened: According to the economic projections, the Federal Reserve’s...

Former Treasury Secretary Lawrence H. Summers has said that the central bank is facing “the most difficult challenge” amid higher prices and fewer jobs. This comes as the Federal Reserve is slated to announce its decision on interest rates by Wednesday afternoon. What Happened: Larry...

OpenAI, the artificial intelligence research lab, is under fire for its plans to transition from a non-profit to a for-profit business. What Happened: The move has been met with opposition from various quarters, including Elon Musk, who argue that it could have significant implications for the...

Five former treasury secretaries are taking aim at the Department of Government Efficiency and Elon Musk for alleged overreach and abuse of powers by the new White House administration. What Happened: Musk has been put in charge of leading the Department of Government Efficiency by President Donald...

Editor's Note: A typographical error in the headline of this story has been corrected. Leading economists criticized former President Donald Trump‘s plan to reimpose 25% tariffs on metal imports, while U.S. steel stocks rallied sharply during Monday’s trading session amid expectations...

Larry Summers, the former U.S. Treasury Secretary, has criticized President Donald Trump’s ‘Bizarre' decision to impose a 25% tariff on goods from Canada and Mexico. What Happened: Summers, in an interview with CNN, described the tariffs as a “stop-or-I'll-shoot-myself-in-the-...

On Sunday, renowned economist and Obama-era Treasury Secretary Lawrence Summers criticized President Trump’s recent tariff impositions, describing them as a “bully strategy” that could have far-reaching negative impacts. What Happened: In a series of posts on X, Summers voiced his...

Consumer sentiment faces renewed pressure as inflation expectations hit 3.3% for both short and long-term outlooks, despite December’s core inflation showing signs of moderation at 3.2% year-over-year, below the expected 3.3%. “The consumer is worried about both short-term inflation...

The past week has been a whirlwind of economic news, with President-elect Donald Trump at the center of several major stories. The financial landscape is buzzing with anticipation and concern, from proposed tariffs affecting dollar stores to potential inflationary risks. Let’s dive...