Former U.S. Treasury Secretary Lawrence Summers has added his voice to the screeching choir calling for the Federal Reserve to abstain from a September interest rate hike. If Summers had his way, that move would be on ice indefinitely. “A reasonable assessment of current conditions suggests that raising rates in the near future would be a serious error that would threaten all three of the Fed’s major objectives: price stability, full employment and financial stability,” Summers wrote in an opinion piece for the Washington Post that published on Sunday. Financial markets are on edge, after last week saw the biggest ... (full story)