Summers: Global Economy Can’t Withstand Four Fed Rate Hikes

We all know Summers is right. Hell, using the Fed’s own inflation goals of 2%, there is no way the Fed should be hiking interest rates. Nevertheless, here we are, sitting like morons, waiting for the Fed to trip over themselves down a flight of stairs.

In a Bloomberg interview this morning, Summers talks about how inflation rearing its ugly head was remote, manageable, and how the focus should be on growth.