Larry Summers says the Fed has inflation on the ropes, calls out crypto frauds, and bemoans the debt-ceiling fiasco. Here are the ex-Treasury chief's 12 best quotes from a new interview.

• The Fed may only have to hike interest rates once more to beat inflation, Larry Summers says.
• The former Treasury secretary calls out crypto frauds and pushes for stronger banking regulation.
• He compares Republicans' debt-ceiling antics to taking hostages or kidnapping and demanding ransom.

The Federal Reserve might only need to hike interest rates once more to conquer inflation, but there's still a risk of "stagflation" or a painful combination of soaring prices and stagnant economic growth, Larry Summers has warned.