The Federal Reserve should be open to raising interest rates by a half percentage point in July if it opts to hold off from tightening credit this month, former Treasury Secretary Lawrence Summers said.
“We are again in a situation where the risks of overheating the economy are the primary risks that the Fed needs to be mindful of,” the Harvard University professor said in an interview with Bloomberg Television’s David Westin on Friday.
Read More : Fed Should Deliberate a Potential Half-Point Rate Increase in July, Advises Summers in Case of June Pause