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- There's a 15% chance the Fed raises rates this year, Larry Summers says.
- His rationale is built upon a streak of strong economic data and still-high inflation.
- There's almost no strong deflationary pattern in the housing and service sectors, he said.
A wave of inflationary signals means that the Federal Reserve's next move could be a rate hike, former Treasury Secretary Larry Summers said.
"There's a meaningful chance, maybe it's 15%, that the next move is going to be upwards in rates, not downwards," Summers said during an interview on Bloomberg TV on Friday, adding that the Fed has to be "very careful."