Summers Warns Against Investor Rush to Declare Fed’s Job Is Done
(Bloomberg) — Former Treasury Secretary Lawrence Summers warned against the exuberance taking hold in financial markets that the Federal Reserve has effectively won the war on inflation.
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“People are a little bit in too much of a hurry to declare that we’ve done all the monetary policy that we need to do,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “The very dramatic response we’ve seen” this week with rallies in Treasuries…