The challenge is that it isn't clear what the long-term normal level of interest rates is going to be, Larry Summers said.» Read More
Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the U.S. Federal Reserve.
Ben Bernanke said the Fed could have done more to fight the financial crisis and that he struggled to find the right way to communicate with markets.
Larry Summers said was is in agreement with U.K. finance minister George Osborne on stimulating investment, but conceded that he had not always been a fan of Britain's austerity policy.
"America succeeds by raising everybody up. It doesn't succeed by tearing anybody down," Larry Summers tells CNBC.
Former U.S. Treasury Secretary Lawrence Summers, discusses the government's intervention in preventing an economic collapse in the U.S. during the financial crisis of 2008, and shares his thoughts on the slow growth recovery. We got to find ways of doing more, says Summers.
CNBC's Kelly Evans shares her thoughts on today's market activity at Post 9 including economist Larry Summers speech on QE and what it means to the broader growth of the economy.
Larry Summers also said the Federal Reserve should concentrate on pushing the economy to expand.
Former Treasury Secretary Larry Summers says the Federal Reserve's primary policy needs to emphasize spurring growth in the economy.
Former Treasury Secretary Larry Summers discusses economic trends in the last 2 years, and the focus on income distribution. He hopes the government never loses sight of governing carefully and analytically.
Former Treasury Secretary Larry Summers discusses health care costs, and the importance of getting Obamacare right. "For the first time since World War II, health care as a share of GDP has stopped going up," he says.
Former Treasury Secretary Larry Summers thought it was "the right thing for the Federal Reserve" to withdraw from consideration for Fed chairman.
Former director of the National Economic Council Larry Summers says deregulation and regulation should be looked at issue by issue. "Dodd-Frank has accomplished a great deal," he says. And when asked about dropping out of the running for Federal Reserve chair, Summers, says it was the right thing to do for the Fed. He has moved on and is greatly enjoying private life.
Former director of the National Economic Council Larry Summers reacts to BlackRock CEO Larry Fink's comments predicting a no taper until June 2014. "It's wrong to be relying on monetary policy as the main driver of the economy," he says.
Former director of the National Economic Council Larry Summers says Dodd-Frank has accomplished a lot. "Too big to fail still is an issue and concern," he adds.
Lobbying for Larry Summers as Fed chairman should have happened earlier and been more aggressive, according to friends who spoke to CNBC.
David Robin of Newedge says there's no way that the Fed will taper this year.
The White House has "terribly mishandled" the process of picking the next chair of the Federal Reserve, said Dallas Fed President Richard Fisher.
With Larry Summers out of the Fed chairman race, Ben Bernkanke's successor is unknown. Jim Pethokoukis, American Enterprise Institute, and John Tamny, Forbes, discuss the President's possible pick. And John Taylor, Stanford University economics professor, discuss rules to govern the U.S monetary policy.
Due to political push-back, Larry Summers was forced to drop out of the race for Fed chairman. CNBC's Steve Liesman has the results of the CNBC Fed survey following the news. Ben White, Politico, and Greg Braca, TD Bank Group, weigh in on whether Janet Yellen is the clear front runner now that Summers out of the race.
Wall Street agrees on two things: the Fed will soon reduce its asset purchases by $15 billion and Janet Yellen will be nominated as chair, according to a new CNBC Fed Survey.