Top economist Larry Summers is highly concerned U.S. Treasuries were trading ‘like those of an emerging market nation’

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In a wide ranging interview with Fortune, the former Treasury Secretary also says we're already seeing the first signals of a possible recession.

Summers is baffled by that thinking.“I have been exposed to a lot of economic theories in my time,” he declared.“I have not been able to relate much of what Bessent and his colleagues are saying to any school of economic thought.

Treasury Secretary Scott Bessent has said that the Trump tariffs are like a “melting ice cube” that would gradually decline as protections strengthen U.S.manufacturing and create new jobs.

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Article Details

Author / Journalist: Shawn Tully

Category: EconomyBusiness

Markets: United States

Topics: Donald Trump Tariffs Tariffs and trade Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-11 @ 11:41:04 (4 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 1535 words

Reading Time: 9 minutes read

Sentences: 6 lines

Sentence Length: 256 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27787561

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 47 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #95

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