Lawrence Summers
Lawrence Summers
Lawrence Henry "Larry" Summersis an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University...
NationalityAmerican
ProfessionPolitician
Date of Birth30 November 1954
CountryUnited States of America
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When I first joined the Treasury some years ago, I can assure you we were not thinking about threats to the financial system emanating from viruses, Trojan Horses, logic bombs or malicious code, ... But we are thinking about those things now, and with good reason.
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Jack Meyer did a great job for Harvard.
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Our national savings rate is still far too low, driven by a personal savings rate that is not where it should be,
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There are issues of intrinsic aptitude ... I would like nothing better than to be proved wrong.
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We have been pleased with the market response (to the 10-year indexed notes), ... A liquid market has developed.
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Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult.
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We believe the global expansion needs to be balanced up, not balanced down, ... An adjustment should take place in our countries through increased public savings. Internationally, there needs to be an adjustment through an increase in exports rather than reduced imports.
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We discussed developments in our exchange and financial markets, ... In this context, we emphasized our view that exchange rates among major currencies should reflect economic fundamentals. We will continue to monitor developments in exchange markets and cooperate as appropriate.
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We are not contemplating formal requests from any other country,
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We are mindful that we must not take our expansion for granted.
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We are considering naming chairs after distinguished Indians. The research center will look at a broad canvas of research on all aspects of India.
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We afford ourselves the best chance of maintaining stability in the highly complex Pacific region by inviting China into the global system rather than keeping it out,
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We want to be candid about the need for them to reform their banking system and do more on trade and the like, but the guy (Hashimoto) is also under a lot of pressure right now.
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The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With $3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than $1 billion per year.