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20VC: Larry Summers on How to Manage Inflation; Should We Increase Rates Even Higher, Why We Need To Change The US Tax System, Why Europe is a Museum, China is a Jail and Bitcoin is an Experiment & How a Trump Win Would Hurt the US Economy
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Fed's Incentive to Raise Interest Rates
There's nothing in the current situation that says to me that we need to get rates anywhere near where Volcker took them. But if we were to neglect this problem for long enough and was neglected for a decade during the 70s, we might get to such a point. We're going to have to raise interest rates higher than we would have if we raise them more promptly. And if we delay excessively, we'll have to raise the heat even higher as a consequence of that delay. In the short run, it's always easier to print more money and paper over problems," he said.
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