Summers: I'm Nervous of a 'Sugar High' in Markets

The transcript discusses market participants' beliefs about fiscal stimulus and infrastructure plans under a new administration. It highlights concerns about market euphoria and the potential disconnect between market performance and fundamentals. The narrative is influenced by fear of national changes, and the administration's actions could lead to reassurance or alarm. The importance of not making hasty judgments based on short-term market behavior is emphasized.

In what way does the speaker believe fear influences market narratives?

What does the speaker imply about making judgments based on short-term market behavior?