2min chapter

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

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

CHAPTER

The Problem With Inflation Targeting

The Fed got itself convinced that things were much more under control than they in fact were. The main problems have been bad use of inflation targeting and misjudgments about how the economy was functioning rather than the broad framework. I think a very important attribute as a policymaker is you have to not get confused about what you want, he says.

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