Federal Reserve Chairman Jerome Powell.Andrew Harnik/Getty ImagesThe Fed probably can't take rates as low as it would like to, according to Larry Summers.Summers pointed to the Fed's target of 2.9% for the so-called neutral rate.But taking the neutral lower than 4% risks reigniting inflation, he said.The Fed doesn't have the wiggle room to cut interest rates as low as it hopes to, according to ex-Treasury Secretary Larry Summers.The top economist issued a word of caution for investors hoping for steep rate cuts from the Fed.
Comment on The Fed isn't going to be able to cut interest rates as much as it wants to, former Treasury Secretary Larry Summers says
jsor@businessinsider.com (Jennifer Sor), Business Insider
Tue, 09/24/2024 - 9:34am
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