Supporting Demand Is Not a Reason for Blank Checks: Summers

The transcript discusses President Biden's $1.9 trillion stimulus proposal, comparing it to the Obama administration's approach. It highlights the importance of fiscal policy and the challenges of bipartisan support. The conversation shifts to monetary policy, market froth, and the role of the Federal Reserve. The discussion concludes with predictions on inflation, unemployment, and potential regulatory changes.

How does the speaker characterize the current state of fiscal policy thinking?

What is the speaker's opinion on the effectiveness of negative interest rates?

What does the speaker predict about inflation and unemployment rates in the next 12 months?