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larry summers
Harvard University President Emeritus Larry Summers.

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  • Former Treasury Secretary Larry Summers suggested more interest-rate hikes may be needed to cool inflation. 
  • "I probably would have allowed more room for concern about inflation and left the door a bit more open to multiple rate hikes," he said. 
  • The Fed made a decision Wednesday to hike interest rates by 25 basis points amid an ongoing banking crisis in the US. 

Former Treasury Secretary Larry Summers said more interest-rate increases may be needed to bring down inflation despite a banking crisis in the US. 

"I probably would have allowed more room for concern about inflation and left the door a bit more open to multiple rate hikes, given the strength of the recent inflation data" Summers told CNN on Wednesday. 

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Markets, MI Exclusive, Larry Summers, Inflation, Fed, fed inflation, fed decision, Interest Rates, rising interest rates, SVB, svb crisis, SVB collapse, Banking Crisis, US Banking Industry, us banking crisis
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Former Treasury Secretary Larry Summers says more rate hikes may be needed to k…