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Economic growth is ‘not inspiring’

On May 20th, 2015, Summers said on CNBC’s Squawk Box he expects the U.S. economy to expand at a quicker pace than in the first quarter, but there are still hurdles. Summers predicted growth in the low to mid 2 percent range for 2015. “That’s not inspiring performance,” he said, “but that’s hardly reversion to recession.” continue

Don’t bet against America.

At the SALT Conference in Las Vegas, NV on Friday, May 8, 2015, Summers told the audience,”This is not a society that is stuck. It is a society that is uniquely able to be resilient through a constant process of savage self-criticism.” continue

Concern growth is not going to pick up

On Thursday, May 7, 2015, Summers talked with Bloomberg’s Stephanie Ruhl and Erik Schatzker at the Salt Conference in Las Vegas, NV.  They discussed Treasury yields, Europe, China and concerns about growth in the United States.  Summers talked of the “dawning and growing awareness in the market of the idea we may have a chronic excess of savings over investment in the economy — a phenomenon known as secular stagnation.”  continue