The Democratic presidential candidate's tax proposals would have "catastrophic economic consequences" if implemented, the former treasury secretary says.
Summers said even if the U.S. and China sign the partial deal, "there will still be large tensions and uncertainties" between them.
Former Treasury Secretary Summers took special aim at the two economists – Emmanuel Saez and Gabriel Zucman – who have been advising the two Sens. Warren and Sanders on their wealth taxes.
"I fear that's what we're headed into" here in America, warns the former Treasury secretary.
"That is to misunderstand entirely the role of appointed officials in a democracy," Summers said.
The Democratic former Treasury secretary says the Trump administration should not weaken the dollar in order to boost competitiveness.
President Donald Trump's criticism of the Federal Reserve is "very disturbing" as is his "envy" of dictators, says former Treasury Secretary Larry Summers.
Almost a year after buying PillPack for $750 million, Amazon is counting on its CEO, TJ Parker, to drive an aggressive pharmacy strategy.
Former Obama advisor Larry Summers isn't hopeful about a trade deal between the U.S. and China.
U.S. $100 bills in circulation hit an all-time high last year, according to new data from the Federal Reserve.
Advocating the government print money without worrying about the bills is a dangerous approach being pushed by far-left Democrats, Summers says.
The former Treasury Secretary warned the Fed should be careful not to raise rates too quickly.
"No responsible central bank wants to look like it's bending to political pressure," says Summers, a strident critic of Trump.
Hans Redeker also claimed the market is failing to understand the impact of the Federal Reserve unwinding its balance sheet.
The Fed's move to reverse its decade-old support of the financial system could backfire, according to J.P. Morgan's CEO. Here's what others have to say.
Chinese companies’ leadership in some technologies are not the result of theft from the U.S., the former Clinton Treasury secretary says.
The former Clinton Treasury secretary calls the steel and aluminum tariffs on the EU, Canada and Mexico "ludicrous."
"Amazon is just being a really effective retailer. That is not a reason for antitrust," former Treasury Secretary Larry Summers says.
Trump's tariff threats appear to be doing more harm than good to the U.S., former Treasury Secretary Larry Summers says.
Summers said the Trump steel tariffs are positioned to hurt more workers within the U.S. than they could help.