Summers Sees Higher US Long-Term Treasury Yields Over Time
- Former Treasury chief says neutral Fed rate is around 4.5%
- Inflation not on convincing path to Fed’s 2% goal, he says
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Former US Treasury Secretary Lawrence Summers said he sees higher long-term interest rates over time.
“Markets should be getting used to rates in current ranges for the foreseeable future and probably long rates above current levels,” he said Tuesday in an Economic Club of New York webinar conducted with former White House chief economist Glenn Hubbard. The yield on the 10-year Treasury note is currently around 4.3%.