The Latest Breaking News from Lawrence Summers

A growing wave of weak economic data and recent turmoil in the banking sector deepened worries about the economy tipping into a recession this year. Amid an uncertain macroeconomic backdrop, it could be wise to avoid fundamentally weak stocks Shift4 Payments (FOUR), ChargePoint (CHPT), and WeWork (WE), with 10% or…

International Monetary Fund forecasts UK GDP will shrink by 0.3% in 2023, worse than other G7 countries

U.S. mortality data was "especially scary remembering that demographics were the best early warning on the collapse of the USSR,” Summers tweeted.

The CEO of hedge fund Citadel said that backing Silicon Valley Bank's deposits in full was a "loss of financial discipline."

WASHINGTON — A White House economic adviser said negotiations over raising the U.S. debt ceiling are an “absolute nonstarter” for President Joe Biden, though he’s ready to discuss spending with congressional Republicans.

Following the startling suspension of its would-be record-setting $34.5 billion IPO in November 2020, the fintech company was plunged into an extensive restructuring that has been ongoing for the past two years as regulators clamp down on misconduct in the industry

After three years in which the economy suffered from Covid effects, I am sorry to say that 2023 will not be the year of economic recovery as everyone had hoped. The global economy will still be plagued by inflation threats and several adverse factors such as excessive debt and the…

WASHINGTON — Treasury Secretary Janet Yellen said the department will begin taking special accounting maneuvers on Jan. 19 to avoid breaching the U.S. debt limit, urging lawmakers to boost the ceiling to avert a devastating payments default.

Summers said inflation is still “inconceivably high," but acknowledged that recent trends show the Fed’s inflation-fighting campaign is “closer to being done.”

The world economy looks to be transitioning to a more difficult era in which interest rates will be higher, geopolitical tensions greater and uncertainties more pronounced.

Vivek Wadhwa didn't take the warnings about ChatGPT seriously–until his son asked it about their family.