Summers Says Fed Terminal Rate Above 5% Wouldn’t Surprise

Summers Says Fed Terminal Rate Above 5% Wouldn't Surprise

Former US Treasury Secretary Lawrence Summers says the Federal Reserve may have to eventually raise rates above 5% to get inflation under control. “I think we’re more likely to end up above 4.5% than we are to end up below 4.5%. And it certainly wouldn’t surprise me if that rate has to get above 5%,” Summers says on Bloomberg Television’s “Wall Street Week.”
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