Summers: Can’t Look to Austerity for Growth

Photograph by Jerome Favre/Bloomberg

Lawrence “Larry” Summers, professor at the John F. Kennedy School of Government, attends a news conference at the Asian Financial Forum in Hong Kong.

Former U.S. Treasury Secretary Lawrence Summers said today “we really can’t look to austerity as a source of growth.”

Summers was speaking with Bloomberg’s Tom Keene on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland. Summers also served as an economic adviser to President Barack Obama.

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