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The Latest Breaking News from Larry Summers

Top analyst who once feared 'the end of capitalism' rips French and British boomers for sabotaging Gen Z futures

"Inter-generational tension is not just because boomers have got rich from QE driving asset prices higher, especially housing," Albert Edwards wrote on LinkedIn.

Fortune

How the midlife crisis was replaced by a decadelong rise in 'young worker despair' in the U.S.—and what it means for Gen Z

The midlife "hump" of despair used to be "one of the most important patterns in the world," says Dartmouth's David Blanchflower. But something else has taken its place.

Fortune

Scott Bessent Calls Tariffs A 'Melting Ice Cube,' Says They Could Disappear As Trade Rebalances

U.S. Treasury Secretary Scott Bessent described America's reciprocal tariffs as a “melting ice cube,” suggesting they could be reduced or eliminated if the nation's trade deficit narrows.

Benzinga

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After Trump sacks BLS boss, Democrats fear these seven words the most - Roll Call

President Trump's declaration that "we need people that we can trust" after his firing of the BLS commissioner has left Democrats shaken.

Roll Call

White House officials rush to defend Trump after shaky economic week

US trade representative says ‘the president is the president’ after firing of labor statistics chief amid slow job growth

The Guardian - US

‘Never had the privilege ’: Trump’s denial machine backfires as he mourns not experiencing the very thing he claims to condemn

Donald Trump's odd comment caught the attention of netizens who proceeded to call him out.

We Got This Covered

What CEOs Say About President Trump and Fed Chair Powell

Top opinion-shapers and decision-makers are expressing mixed views on the evolving conflict between the White House and the central bank.

Kiplinger

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Trump Reveals Bill Clinton Visited Epstein Island 28 Times Despite Claims That No 'Client List' Exists

President Donald Trump attempted to subvert attention from himself by telling reporters that President Bill Clinton visited the island of disgraced financier Jeffrey Epstein 28 times.

Latin Times

‘I never went to that island,’ Trump says of Epstein’s underage getaway as he tells reporters to talk about Bill Clinton

Trump is visiting his golf courses in Scotland as questions continue to swirl around his former ties to dead pedophile Jeffrey Epstein

The Independent UK

Elon Musk and some Democrats like Reid Hoffman actually share common ground on U.S. debt

LinkedIn cofounder and top Democratic donor Reid Hoffman said he's "very sympathetic" to Musk's core cause of reining in deficits.

Fortune

Scott Bessent Slams Larry Summers' '2,000 Days Of Death' Remark On Trump Tax Plan: Demands Apology Over 'Callous' TV Comment

Treasury Secretary Scott Bessent criticized former Treasury Secretary Larry Summers on Monday, calling his recent television comments about Trump’s tax legislation “shockingly callous” and demanding a public apology.

Benzinga

Ex-Treasury secretary pans Congress for passing Trump’s ‘shameful’ megabill he says will hurt economy

Summers notes that cuts to SNAP and Medicaid could kill thousands while saying GOP tax cuts will mostly benefit wealthy Americans

The Independent UK

Sexism in science: 7 women whose trailblazing work shattered stereotypes

Seven women were part of a trailblazing network of feminist scientists in the 1970s, 1980s, and 1990s in the Boston area in the US. Christa Kuljian is a science writer and historian of science who focuses much of her research on issues of science and society, gender and race. She…

The Conversation

Top economist Larry Summers is highly concerned U.S. Treasuries were trading 'like those of an emerging market nation'

In a wide ranging interview with Fortune, the former Treasury Secretary also says we're already seeing the first signals of a possible recession.

Fortune

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The Independent UK

Ex-treasury secretary predicts recession with 2 million more Americans unemployed

Larry Summers, who held the post during the presidency of Bill Clinton, is sounding the alarm over the impact of Donald Trump’s tariffs

Latin Times

Trump Admin is Leaving Countries Looking to Negotiate on Read, Nations Claim

Donald Trump said the purpose of the tariffs is getting countries to the negotiating table, but many are saying their requests are not being answered

Latin Times

Former Treasury Secretary Says Families Will Lose At Least $5,000 As a Result of Trump's Tariffs

Former Treasury Secretary Larry Summers said the U.S. will likely enter a recession and lose 2 million additional jobs as a result of Trump's tariffs

Fortune

Dow futures sink 1,300 points after Trump defends tariffs as 'medicine' to fix trade deficit

"I don’t want anything to go down, but sometimes you have to take medicine to fix something," Trump told reporters.

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Fortune

Larry Summers says Trump's 'masochistic' tariffs will cost $300,000 per family of four

The former Treasury Secretary said an hour of rhetoric cost the economy $30 trillion.

Fortune

Analysts unanimously denounce Trump’s liberation day tariffs: ‘Worse than the worst case’

Analysts at Wedbush Securities and Goldman Sachs as well as top economist Larry Summers predicted much economic pain ahead.

International Business Times UK

Nasdaq Composite Jumps 400 Points After US Fed Keeps Rates Unchanged, Forecast Two Rate Cuts in 2025

The US stock market bounced back after declining for weeks after the US Fed forecast two rates cuts this year despite concerns of high inflation, unemployment, and a slump in consumer spending.

Fortune

Wall Street's recession odds are starting to look like a coin flip as Trump refuses to back down on his trade war

"If we would continue down this road of what would be more disruptive, business-unfriendly policies, I think the risks on that recession front would go up."

Fortune

Larry Summers says there is a real possibility of a recession, which he calls the result of a ‘self-inflicted wound’

President Donald Trump and Treasury Secretary Scott Bessent have suggested an economic downturn on the back of tariffs would be a transition period. Larry Summers, a former Treasury secretary, thinks otherwise.

The Independent UK

Recession chances are ‘close to 50/50,’ Clinton’s treasury secretary says

The warnings from economists come amidst chaos and uncertainty created by President Donald Trump’s trade war on Mexico, Canada and China

Al Jazeera

Trump’s 25% tariffs on steel, aluminium imports kick in; Canada retaliates

Latest tariffs imposed as markets reel from a dizzying series of back-and-forth announcements on trade.

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