Larry Summers

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Last quote by Larry Summers

The idea that this is going to produce a $4,000 increase in wages is, I think, an absurdity.feedback
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Oct 16 2017 Trump Presidency
Larry Summers has been quoted 79 times in 44 different articles. On this page, you will find all of Larry Summers’s quotes organized by date and topic. Alongside each quote is a link back to the article where the quote was reported, so you can go back to the source for more context if you need it. Topics that Larry Summers speaks about are Europe and United States, for example. Most recently, Larry Summers was quoted in the article Ex-Treasury Secretary Summers: White House tax plan 'indefensible' saying, “I never spoke this way about the proposals of the Bush administration, but I do think there are some real sacrifices of seriousness and credibility in the policy process in the way that tax change is being advocated.”.
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Larry Summers quotes

Aug 22 2017

@Stevenmnuchin1 invests his credibility in defending @realDonaldTrump. Will he have credibility when financial crisis requires it? Presidents are poorly served by sycophant advisers who reflexively flatter & defend them. I'm disappointed in @stevenmnuchinstatement.feedback

Aug 21 2017

@Stevenmnuchin1 invests his credibility in defending @realDonaldTrump. Will he have credibility when financial crisis requires it? 'Presidents are poorly served by sycophant advisers who reflexively flatter & defend them. I'm disappointed in @stevenmnuchinstatement.feedback

Aug 16 2017 - Trump Presidency

I have been disappointed that there have been no resignations on principle by the political appointees of this administration. There's a tradition in America of people of principle when they are sufficiently offended and disagree with their president on matters fundamental resign.feedback

Aug 16 2017

Every member of Mr. Trump's advisory councils should wrestle with his or her conscience, and ponder Edmund Burke's famous warning that 'All that is necessary for the triumph of evil is for good men to do nothing.feedback

Aug 16 2017 - Trump Presidency

Anyone who thinks that by attending a meeting less than monthly with 30 people in a room they are moving the nation is engaged in egotistical self-delusion of a high order.feedback

Aug 15 2017 - Trump Presidency

If a substantial group of CEOs resigned en masse, what realistically could the president do other than tweet his frustration and hopefully ultimately learn a lesson?feedback

Aug 15 2017 - Trump Presidency

Since Inauguration Day, I have been troubled by abdication of moral responsibility on the part of business leaders who have lent their reputations to President Trump. Every member of Trump's advisory councils should wrestle with his or her conscience and ponder Edmund Burke's famous warning that 'all that is necessary for the triumph of evil is for good men to do nothing.feedback

Aug 14 2017

At what point as a patriot is your allegiance to your country rather to your president? I've always thought of my allegiance as a patriot as being to my country.feedback

Jul 19 2017

The international financial institutions are the cheapest and best lever we have to push to further defense of our economic and geoeconomic interests. It would be a shame if these institutions either stagnated or their leadership came to embody values very different to those of the United States.feedback

Jul 10 2017 - G20

There is no precedent for a head of government's adult child taking a seat. There is no precedent for good reason. It was insulting to the others present and sent a signal of disempowerment regarding senior government officials.feedback

Jul 09 2017

A corporate CEO who acted this way would already have been replaced.feedback

Jun 20 2017 - Carbon

There is a reasonable shot that there will be an opening that will be taken in the next several years. It's hard to argue against a fuel tax that Exxon's in favor of.feedback

Jun 04 2017

The United States may have its first post-rational president.feedback

Jun 02 2017

This is a mistake no serious business person would make.feedback

Jun 01 2017

It's a kind of pure test, to have a separate source of variation and find that diversity does good.feedback

Jun 01 2017 - Trump Presidency

This decision is an immoral assault on the public health, safety and security of everyone on this planet. New Yorkers are already experiencing hotter summers, more powerful storms and rising seas, which disproportionately affect already vulnerable communities. ... I am committing to honor the goals of the Paris agreement with an Executive Order in the coming days, so our city can remain a home for generations to come.feedback

May 24 2017 - Twitter

This is a mistake no serious business person would make. It appears to be the most egregious accounting error in a presidential budget in the nearly 40 years I have been tracking them.feedback

Apr 27 2017

I just don't understand what could cause an administration to put its secretary of the Treasury in a position to assert something ... that is generally regarded by economists as absurd.feedback

Apr 27 2017

If I had been asked by the White House to assert a proposition as demonstrably false as the claim that this plan would produce revenue, I would have resigned rather than put the credibility of the department behind a proposition that no one with real experience would believe was true. There's none of that coming from the administration, and yet there's this confident statement that it will pay for itself. I don't know how they could possibly know without having done economic work.feedback

Apr 09 2017 - Trump administration

By focusing on trade and currency manipulation, the Trump administration is missing the bigger, more important, picture.feedback

Apr 08 2017 - Democratic Party

It is a remarkably big switch from October. If you are a Democrat, you are primed for negativity. It carries through in your view of everything else. I'd bet there will be some minor convergence, but there will still be a large divergence on what should be a matter of objective reality.feedback

Apr 07 2017

Why tax in ways that reduce the size of the pie rather than ways that assure that the larger pie is well distributed? Imagine that 50 people can produce robots who will do the work of 100.feedback

Mar 30 2017

If you use the standard of what the administration has held out the hope for, 3 to 4 percent growth, there is nothing in any data suggesting we're moving towards that 3 to 4 percent growth standard. We may be seeing a kind of sugar high, and sugar highs tend to be followed by much less happy periods. If you continue to have the degree of division, confusion, rancor and uncertainty in Washington that we've seen, we may not see those sentiment changes last as long as many people thought they would a couple months ago.feedback

Mar 30 2017 - Russia

There's a huge set of leadership issues around the president's ability to lead in the way presidents do that comes before, and is separate from, whatever add-on you get from Russia investigations.feedback

Mar 20 2017

I certainly wouldn't want to be critical of the Bank of China. But I do think that the strains come from the fact that they seem to need to do things to maintain demand that probably they won't be able to do forever. And so in a sense their delaying reform is, I think, a cause for concern.feedback

Mar 19 2017

I certainly wasn't encouraged and it certainly wasn't a favorable development. Having been involved in writing many G-7 and G-20 communiques, I don't think the world is hanging on that prose, so I think the real question is not what words there were in the communique, but what will happen over time.feedback

Mar 19 2017 - Fake news

I think that making policy based on facts, advancing issues based on analysis, is central to the effective functioning of government. And so I'm very concerned by the repeated tendency to engage in alternative facts and to assert things that are not supported by reality. And I think over time that will do great damage to credibility, and in many ways in governing, credibility is the coin of the realm.feedback

Feb 07 2017

If we do the border adjustment, my guess is that the dollar will rise substantially. I don't think it's a very good idea because I think it will cause financial problems all over the world because all kinds of dollar debtors will hugely burdened.feedback

Feb 07 2017 - Mexico

If our policy is to try to wall off the U.S. market and try to hope that other countries fail, that could be a policy.' I think it's a policy that will be catastrophic in terms of our long-term security interests. That means anybody thinking about locating in Mexico now has a 15 percent cost advantage. That 15 percent is huge relative to what he's accomplished yelling at a few CEOs.feedback

Feb 02 2017 - Protectionism

Hyper protectionism will make us poorer. I think the limbo we're in, in respect to corporate taxes that leave trillions of dollars abroad, is untenable and does real economic damage. So I'm a strong supporter of corporate tax reform. But it should be done right. It shouldn't be something that undermines the competitiveness of many businesses.feedback

Feb 02 2017 - Protectionism

Hyper protectionism will make us poorer. Consumers will pay more for their goods, which means they'll have less spending power to spend on American goods, and that'll definitely have consequences for the economy ... Other nations will retaliate, and that'll have consequences for the health of our companies. The consequences of protection are that we will be poorer and the world will be less safe.feedback

Jan 20 2017

Is this any moment for the wholesale repeal of the changes that have been made in the last eight years, suggested by some? No, I think that would be a grave mistake.feedback

Jan 20 2017

I think it's hard to argue that the system is not safer today than it was 10 years ago. There's more capital by many measures, there's substantial more liquidity, there are better procedures for resolving failed institutions. There's more transparency with respect to liabilities. There's more comprehensive regulation of systemic institutions, there's better procedures for international corporations.feedback

Jan 20 2017

At the same time, it does bear emphasis that if you look at a ratio that I have found relevant in some of my work - the market value of equity to the total value of assets for large banks - it's lower than it was in the decade before the financial crisis.feedback

Jan 20 2017

So do we have any basis for complacency? No. Are there important issues of liquidity in the functioning of markets in difficult circumstances that remain to be addressed? Yes.feedback

Jan 19 2017 - Mexico

The decline in the peso is a dagger at Ohio. It is a major change in the relative attractiveness of locating production activity in Mexico versus locating it in the American heartland.feedback

Jan 18 2017

If it's not put to rest ... populist policies we're pursuing will only have very short-run benefits. Ultimately, there will be more uncertainty, reductions in confidence and a bit of a downward spiral.feedback

Jan 10 2017

Unfortunately, the potential reforms identified by House Speaker Paul D. Ryan (R-Wis.) and President-elect Donald Trump appear likely to do significant damage to the tax base and to the U.S. and global economies.feedback

Nov 23 2016 - Demonetization

The costs [of demonetization] exceed the benefits.feedback

Nov 16 2016

The only infrastructure investments it can fund are the ones that are very commercial and yield revenues.feedback

Nov 16 2016

If you add it all up, it doesn't seem like a very favorable equation except for a limited number of companies that are going to benefit from the deregulatory measures.feedback

Oct 11 2016

It's a sign of some serious problems that are associated with the Brexit strategy.feedback

Oct 11 2016

The decline in the pound is like a fever.feedback

Jan 22 2015

There is every reason to expect that QE will be less impactful in a context like the present one in Europe than it was in the context of the United States.feedback

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