Larry Summers News

Historically, trade wars have proven economically corrosive. The 1930 Smoot-Hawley tariffs worsened the Great Depression by slashing international trade by 65%. While Trump’s team insists today’s globalized economy is more resilient, experts caution that modern supply chains are deeply interdependent—a single tariff can disrupt industries worldwide. As the 2024 election looms, the stakes couldn’t be higher: voters grappling with inflation may sour on “America First” policies if pocketbook pressures mount.

Subscribe to enjoy similar stories. President Trump’s aggressive move to place tariffs on hundreds of billions of dollars in imports, ranging from crude oil and auto parts from Canada to Mexican avocados and raspberries has rattled investors, economists and some lawmakers, who are all wondering: What exactly is the goal? Larry Summers, the former U.S. Treasury secretary under President Bill Clinton, said that Trump’s move amounted to “a self-inflicted supply shock." Kentucky Republican Sen.

Subscribe to enjoy similar stories. They gave it the old college try, but America’s elite universities are facing money problems partly of their own creation. It might not seem that way compared with the broader world of U.S.

Larry Summers concerns regarding the decision of the Federal Reserve to cut interest rates by a half percentage point are an error. Larry Summers demonstrates that, as per robust labor market data, the U.S. economy remains strong by making the potential rate cut unnecessary.

Acting Labor Secretary Julie Su breaks down the September jobs reports, jobs revisions, the losses in the manufacturing sector and collective bargaining as port workers reach a tentative deal.

Treasury Secretary Lawrence Summers said that the hot US consumer price inflation report for March means that the risk case of the next Federal Reserve move to be an increase must be taken seriously. “You have to take seriously the possibility that the next rate move will be upwards rather than downwards,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. He indicated that such a likelihood is somewhere in the 15% to 25% range.

Thomas Siebel tells Maria Bartiromo artificial intelligence is the most rapidly growing segment of the information technology industry that people have seen in four decades at the World Economic Forums annual meeting in Davos, Switzerland.

The mixed news on inflation earlier this week and today didn’t help, but neither did sticky inflation news derail expectations that the Federal Reserve will start cutting interest rates in June. Yet uncertainty about the timing is creeping higher, as a confluence of factors muddy the outlook.

OpenAI CEO Sam Altman will return to the board of the company which is behind popular artificial intelligence (AI) chatbot ChatGPT. The development comes after a boardroom drama that saw Altman being fired in November last year. Altman will join the board with three new directors – Sue Desmond-Hellmann, former CEO of the Bill and Melinda Gates Foundation; Nicole Seligman, former president of Sony Entertainment; and Fidji Simo, CEO of Instacart.

Sam Altman will return to the board of OpenAI, the company said on Friday, just months after a boardroom dustup that saw him fired and rehired by the company behind ChatGPT. Altman was also found to have been wrongly fired in an internal investigation that was launched in the days after his chaotic dismissal last year, the company said.

Elon Musk took over the platform. The others were former U.S. Treasury Secretary Larry Summers and Quora CEO Adam D’Angelo, the only member of the previous board to stay on.

Kaustubh Gupta, Co-Head – Fixed Income, ABSL AMC, says “post Covid, change has become even more pertinent, in the sense that for the first time, the uncertainties on economics, geopolitics, fiscal response and the impact of monetary policy response is paramount and which is why at least as far as the global platform is concerned, we are living in a little bit of uncertain, uncharted territory which opens both opportunities for India and threats for India. On global economy & India’s position in it Kaustubh Gupta: We think that we have this ability to predict the future, but we are living in a bit of an uncertain environment. So, when Dr Krugman and Larry Summers were on opposite sides last year and what actually played out in 2023 was in nobody’s radar. The global economy was expected to slip into recession because of the unprecedented rise in interest rate, but 2023 turned out to be a lot more resilient.

Larry Summers, a former  Digital Currency Group (DCG)  advisor, has been named as one of several academics in connection with the infamous American financier Jeffrey Epstein. 

Quiver Quantitative — The United Kingdom's Competition and Markets Authority (CMA) has announced an investigation into the evolving partnership between Microsoft (NASDAQ:MSFT) and OpenAI, the artificial intelligence company behind the renowned ChatGPT. The CMA's inquiry seeks to determine if the collaboration between these two tech entities amounts to a de facto merger, potentially leading to a formal investigation. This regulatory scrutiny comes in the wake of significant changes at OpenAI, including the temporary dismissal and reinstatement of CEO Sam Altman and the formation of a new board featuring notable figures such as Bret Taylor, Larry Summers, and Adam D’Angelo.

OpenAI’s power brokers seem to have decided that the quickest fix for the dysfunction on display for the past few weeks is to borrow a page from America Inc’s playbook by adding some establishment figures to its board. The company’s initial new lineup of directors includes some of the archetypes that make its boardroom look much more like everyone else’s: A well-regarded technology executive in the form of Bret Taylor, Salesforce Inc’s former co-chief executive officer, and a bigwig economist in Larry Summers, a former US Treasury secretary.

concerns about the safety and speed of OpenAI’s tech deployment, which ostensibly unsettled some board members including Ilya Sutskever, a co-founder and OpenAI’s chief scientist. Some fear that ChatGPT could herald the onset of artificial general intelligence (AGI)–one of the reasons for Sutsekever’s differences with a techno-optimist like Altman. The new initial board will comprise Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.

Investing.com-- Microsoft will take a spot in OpenAI’s board of directors, returning CEO Sam Altman said on Thursday, as the artificial intelligence firm stabilizes after a major upheaval in its leadership earlier in November. 

Sam Altman, one of the founders of OpenAI, has officially returned to office as the firm’s CEO, ending a whirlwind few weeks caused by his abrupt and unexpected temporary departure. 

Investing.com-- Microsoft will take a spot in OpenAI’s board of directors, returning CEO Sam Altman said on Thursday, as the artificial intelligence firm stabilizes after a major upheaval in its leadership earlier in November. 

By Akanksha Khushi, Sayantani Ghosh and Krystal Hu