Summers Upbeat On U.S. Economy; Urges WTO Reforms

Jan. 13, 2005
LONDON: U.S. Treasury Secretary Lawrence Summers repeated on Dec. 15 his confidence that the U.S. economic expansion will continue. He said policy-makers will continue to focus primarily on economic fundamentals rather than financial markets. "I think ...
LONDON: U.S. Treasury Secretary Lawrence Summers repeated on Dec. 15 his confidence that the U.S. economic expansion will continue. He said policy-makers will continue to focus primarily on economic fundamentals rather than financial markets. "I think the fundamentals of the American economy are strong. I believe the momentum of our expansion should continue for some time. I don't see the end of this expansion as in sight," Summers said on British Broadcasting Corp. radio. His upbeat prognosis was accompanied by the traditional warning against complacency. He also said advances made in information technology had made an important contribution to strengthening the U.S. economy in many ways, first and foremost by increasing competition. Summers also urged reforms of the International Monetary Fund to focus it more closely on preventing and solving financial crises. This means scaling back long-term lending, increasing loan charges, and making greater demands in the name of transparency. Summers was in London for talks with Chancellor of the Exchequer Gordon Brown.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!