Central Banks
Summers Expects Fed to Raise Rates Above 4.3% to Curb Inflation
- Former Treasury chief speaks at Harvard event on inflation
- Says 75-basis point hike better than 50-basis point move
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The Federal Reserve may have to eventually raise rates above 4.3% to control inflation, Former Treasury Secretary Lawrence Summers said Thursday.
Speaking at an event at the Harvard Kennedy School, Summers said that markets, which once reflected expectations for the Fed’s benchmark rate to climb to 3%, now see policy makers going above 4.3%.