Larry Summers Warns on GOP’s Ability to Deliver Pro-Growth Agenda

Former Clinton Treasury Secretary Larry Summers told CNBC on Thursday there are a variety of clouds over the presidency of Donald Trump.

The GOP’s inability to pass a health-care bill when the party controls all of Capitol and the White House is a “stunning development,” said Summers, a former Obama economic advisor.

The Obamacare replacement plan failure calls into question whether President Trump and GOP leaders in the House and Senate can deliver on the pro-economic growth promises that have supported the stock market and buoyed business and consumer sentiment, Summers argued on “Squawk Box.”

Summers also said he’s concerned that a fight over funding Planned Parenthood could lead to a government shutdown. It’s worth noting House Speaker Paul Ryan suggested earlier this week the House would not try to defund Planned Parenthood while trying to approve spending to keep the government open beyond April 28.

Couple that fiscal uncertainty with questions about Russia’s interference in the 2016 U.S. presidential election, and there are potential pitfalls on multiple fronts, said Summers, president emeritus of Harvard University.

via CNBC

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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