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Summers says ‘bizarre’ for U.S. to borrow so much in short-term

Bloomberg/Simon Kennedy and Benjamin Purvis

Repost from 8-18-2021

photo of former Treasury Secretary Larry Summers

“Former U.S. Treasury Secretary Lawrence Summers said the Federal Reserve’s massive bond-buying program is resulting in a ‘bizarre’ situation in which the government’s funding structure is overly focused on the short-term.”

USAGOLD note: If the 2024 election were not so far away, the press might be speculating that Summers is making a run for the White House [smile] – and, of all things as a Democrat, on a platform of fiscal austerity.

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