Fed hike an unnecessary risk – Larry Summers

FXStreet (Mumbai) - Former Treasury Secretary Larry Summers was on the wires on Wednesday, arguing against the Fed rate hike in September.

Key Quotes

Markets have already tightened. The US and global economies are slowing.

The case for inflation concern is weak. Arguing for a single hike, then waiting "makes my head spin".

Conventional wisdom underestimates current risks in US/Chinese/global economy.