Ex-Treasury chief Larry Summers says the Fed should consider a big bump in interest rates

MarketsInsider/Zahra Tayeb/6-6-2023

“Hiking interest rates by 50 basis points in July should be an option on the table at the Federal Reserve, even if it pauses its tightening campaign at its meeting this month, according to former Treasury Secretary Larry Summers.”

USAGOLD note: Appears Mr. Summers, still echoing Paul Volcker, sees inflation as much more resilient than either the Fed or Wall Street.