Home/FX/Newsfeed

Larry Summers Says Trump Based Optimism Won’t Last

Share Print 0

The boost in the stock market and the dollar on optimism about the economy since Donald Trump was elected president won’t last, former Clinton Treasury Secretary Larry Summers predicted Tuesday.

“When regimes that were in some ways similar — highly nationalist, highly interventionist with a bit of an authoritarian aspect — have come to power in Latin America, it was often a very good economic period with a strong currency before the thing fell apart,” the economist said on CNBC’s”Squawk Box.”

Summers, a former Obama economic advisor, refused to elaborate on the metaphor. “There is no single person. But there is a tendency in a nationalist, populist economic policy … [that] everything felt terrific and then things were undone.”

In the interview, Summers wrote off the Trump rally since Election Day as a “sugar high,” saying he’s not sure when it will end, but admitting it could “last for a while.”

via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top