Larry Summers Optimistic about US Growth

The world’s only superpower faces its share of tough economic and political challenges, but the past seven years should make people more — not less — encouraged about the future.

That’s the message from an unlikely source: Larry Summers, the prominent economist and former U.S. Treasury Secretary who for the past year has been arguing the U.S. is facing a prolonged period of slow economic growth.

Yet Summers made a compelling and passionate defense of America’s progress and its future despite the pessimism found in politics and the media.

“This is not a society that is stuck. It is a society that is uniquely able to be resilient through a constant process of savage self-criticism,” Summers, the former top economic adviser to President Obama, said on Friday at SkyBridge Capital’s SALT Conference.

The comments drew cheers from the hedge fund crowd at the conference.

via CNN

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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