Larry Summers Is Worried About Gary Cohn's Credibility

The transcript discusses concerns about Gary Cohn's credibility, particularly in relation to his statements on tax plans and economic policies. It emphasizes the importance of credibility for senior economic officials, as it affects public trust and the ability to provide reassurance during crises. The text highlights the risks of making expedient but inaccurate statements, which can undermine trust in public institutions and have long-term costs for economic policy.

What is the main concern about Gary Cohn's statements according to the speaker?

• They might damage his credibility.

• They are too complex for the general public.

• They are not aligned with the President's views.

• They are too optimistic about the economy.

Why is credibility particularly important for senior economic officials?

• It makes them popular among the public.

• It allows them to influence political decisions.

• It ensures they are trusted during economic crises.

• It helps them secure better job positions.

What is a potential risk of making expedient statements according to the speaker?

• It could lead to economic growth.

• It might improve international relations.

• It might result in increased public trust.

• It could cause a loss of trust in public institutions.

How does the speaker view the misstatements made by the President compared to those by Gary Cohn?

• They are less frequent.

• They are more numerous and blatant.

• They are more justified.

• They are less impactful.

What does the speaker suggest is a core problem facing the country?

• Lack of political stability.

• Lack of technological advancement.

• Lack of trust in public institutions.

• Lack of economic growth.