An overheating economy and rising prices could force the Fedâs hand, Summers said. Summers, a top official in the past two Democratic administrations, he has emerged as one of the leading critics among Democrat-leaning economists of President Joe Bidenâs $1.9 trillion pandemic plan. Heâs argued that the measure will pump too much cash into the economy, pushing it past capacity limits and triggering inflation, and called for a focus on longer-term investments instead. Administration officials have pushed back against the critique, saying the Biden bill aims to provide relief to those in need and wonât overheat an economy still suffering from high unemployment. Fed officials have broadly echoed that view flagging the risk of delivering too little fiscal support, and signaling they have no intention of tightening monetary policy anytime soon.
Treasury Select Committee urges FCA to provide Woodford investigation end date
New fund of concern to investors
Former fund manager Neil Woodford
The Treasury Select Committee has called on the Financial Conduct Authority (FCA) to provide an expected end date for its investigation into the collapse of Woodford Investment Management.
In a statement, chair of the Treasury Select Committee Mel Stride highlighted the previous cross-party group, headed by Nicky Morgan, had been vocal in its concerns regarding the failure of the Woodford.
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Campaigner and fund manager Gina Miller said Woodford's plans make a 'mockery' of UK regulation and were an 'insult' to investors who backed his last venture.