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MEMORANDUM ON
INTERNATIONAL POLICY CHALLENGES FACING THE
NEXT US TREASURY SECRETARY
To: The US Secretary of the Treasury
From: Lawrence H. Summers
November 2020
Congratulations on your nomination to be the 78th Treasury Secretary of the United Lawrence H. Summers
is the Charles W. Eliot
States. Few of your predecessors took office at a moment of such risk or such opportunity.
University Professor
I suspect that, far more than is true for most Secretaries, your most significant acts will be and President Emeritus
in the international arena. This reflects in part the very limited scope the current political at Harvard University.
He served as the 71st
context provides for significant financial reform or tax legislation, and the fact that much Secretary of the Treasury
of the financial response to COVID-19 has already been put in place by the Federal Reserve. for President Clinton and
the Director of the National
Even more it reflects the profound deterioration in US international economic relations and
Economic Council for
international economic cooperation in recent years and the very substantial domestic and President Obama. He is
foreign risks on the horizon. Vice Chair of the Board of
Directors o
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