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Larry Summers Says Rising Federal Debt Won’t Crash the U.S. Dollar

From bnnbloomberg.ca

Former U.S. Treasury Secretary Larry Summers said the dollar won’t collapse despite rising federal debt and urged the government to ramp up economic stimulus to offset the impact of the coronavirus pandemic. “The dollar is the world’s safe haven. It’s the place that money moves into when people get nervous about the state of the world,” Summers said in an interview Sunday on CNN’s “Fareed Zakaria GPS.” “All of the dangers are on the side of spending too little right now, rather than spending too much,” said Summers, who headed the National Economic Council under President Barack Obama and was Treasury chief for ... (full story)

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  • Category: Fundamental Analysis