Former Treasury Secretary Lawrence Summers said that persistent inflationary pressures evident in the latest data suggest that there’s potential for the next Federal Reserve policy move to be to raise interest rates, not lower them. “There’s a meaningful chance — maybe it’s 15% — that the next move is going to be upwards in rates, not downwards,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “The Fed is going to have to be very careful.” Summers spoke at the end of a week that saw hotter-than-expected readings on consumer and producer price indexes for January, which spurred traders to ... (full story)