Summers Says U.S. Economy on ‘Right Road’

Former U.S. Treasury Secretary Lawrence Summers said the latest jobs report shows the economy is “on the right road” while Glenn Hubbard, an adviser to Republican presidential candidate Mitt Romney, downplayed the impact of recent jobs data.

“Unlike many of the favorable past reports, if you look beneath the surface of this one almost every indicator within it is favorable,” Summers said today on ABC’s “This Week,” where he appeared with Hubbard, dean of the Columbia Business School.

Employers added 243,000 jobs in January, the biggest gain in nine months, and the unemployment rate dropped to 8.3 percent from 8.5 percent in December, the Labor Department reported last week in Washington.

From: Bloomberg