Summers, Roubini Warn of Premature Federal Reserve Rate Move

Federal Reserve policy makers risk making a mistake that will be difficult to correct if they raise interest rates on Wednesday, according to former U.S. Treasury Secretary Lawrence Summers and economist Nouriel Roubini.

“There are still substantial questions about the growth prospect, about the prospect of achieving the 2 percent inflation target, about uncertainties in financial markets,” Summers said in an interview with Bloomberg Television in Dubai, to be aired later on Tuesday. “In a world where error is inevitable, it’s much better to make easily reversed errors than to make difficult-to-reverse errors.”