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Summers: A 'Jolt' Is Needed to Restore Fed's Credibility

Former Treasury Secretary Lawrence Summers says that Federal Reserve Chair Jerome Powell should signal the possibility of raising interest rates four times next year, in order to restore what he argues is the central bank's lost credibility on fighting inflation. Summers also says that his key takeaway from Friday's November employment figures was the tumble in the jobless rate to 4.2%, from 4.6%. Summers speaks with David Westin on Bloomberg Television's "Wall Street Week."

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