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Video Of The Day: Former Treasury Secretary Says Economy Can't Withstand Four Rate Hikes

The Fed’s December forecast predicts four rate hikes for the coming year, but former Treasury Secretary Larry Summers says no way. "I'd be surprised if the world economy can comfortably withstand four hikes," Summers tells Bloomberg in our Video Of The Day.

In an interview earlier today with Bisnow, GSU economist Rajeev Dhawan agrees, saying the four-rate projection stems from “a simple reading” of the dot chart released in December.

Check out what else Summers had to say about 2016's rumored rate hikes. [Bloomberg]