The economic outlook for the world's largest economy remains uncertain with unemployment levels reaching 10 percent and budget deficits increasing at the national and state levels.
How will the Obama Administration address these and other economic challenges in 2010?
Lawrence H. Summers, Director of the National Economic Council talks with journalist Charlie Rose about these and other pressing economic questions.
Bio
Charlie Rose
Emmy award winning journalist Charlie Rose has been praised as "one of America's premier interviewers."
He is the host of "Charlie Rose," the nightly PBS program that engages America's best thinkers, writers, politicians, athletes, entertainers, business leaders, scientists and other newsmakers.
Lawrence Summers
Lawrence H. Summers is the Director of the National Economic Council. He was appointed by President Barack H. Obama on November 24, 2008.
Until January, he was the Charles W. Eliot University Professor at Harvard University. He served as the 27th president of Harvard University from July 2001 until June 2006. From 1999 to 2001, he served as the 71st United States Secretary of the Treasury following his earlier service as Deputy and Under Secretary of the Treasury and as Chief Economist of the World Bank.
Summers has taught economics at Harvard and MIT. His research contributions were recognized when he received the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40, and when he was the first social scientist to receive the National Science Foundation’s Alan T. Waterman Award for outstanding scientific achievement. He is a member of the National Academy of Science and has written extensively on economic analysis and policy publishing over 150 articles in professional economic journals.
Lawrence Summers received his B.S. from MIT and his Ph.D. in economics from Harvard.
Prediction of future economic activity and developments. Economic forecasts, which range from a few weeks to many years, are widely used in business and government to help formulate policy and strategy. Macroeconomic forecasts predict the course of the aggregate economy and concentrate on variables such as interest rates, the rate of inflation, and the rate of unemployment. Forecasts of private consumption and investment, government expenditures, and net exports help government policymakers responsible for fiscal policy. For example, part of the justification for a change in taxes is a forecast of its economic effects. Microeconomic forecasts are designed to project the effects of change at the level of an industry or a firm. Most microeconomic forecasts begin with assumptions about the aggregate economy before focusing on the projected effects in the specific sector that is of interest. Manufacturers and retailers use such forecasts to formulate business plans such as those involving inventory, production levels, or hiring.
Yes. Charlie Rose, what a dissapointment! It seems he has not being watched the news lately. He did ask some good questions, but forgot very critical ones. And this Summers guy (I handn't heard him speak before), he is either an idiot or a farce --in any way, an awful speaker.
How could Charlie Rose not comment on the fact that the "Volcker Rule" is essentially like the Glass-and-Steagal famous law passed after the crisis of 1929(impacting the period which he commented, post WWII, which had many less financial crises). This law, fundamentally, separated investment firms from commercial banking. Now, Summers helped repeal that law during the Clinton administration in 1999.
How could get go on, totally shameless, on TV!, not realizing people know what he did?!
Cutestain, you are 100% correct with your statement.
Summers has a massive conflict of interest as do most of Obama's cabinet picks,
it reads like roll call on Wall street. Obviously nothing is changing.
Larry Summers has no room to criticize anyone on Wall St. He is a huge part of the problem and does not belong in any Administration. Shameful that he is part of the government, regardless of anything he says. Past (and consistent) actions speak much louder than any words.
Charlie Rose is a uniquely awful interviewer - It's like a pointless pastiche of the BBC's Jeremy Paxman.
He constantly talks over people without paying attention to their answers, but instead of forcing them into answering, he simply renders their responses inaudible.
member. 
