Summers Predicts U.S. Recession More Likely Than a Soft Landing

Trumponomics · Apr 14, 2022 · 31m · transcript

Last year, Larry Summers famously shot down one of the Federal Reserve's favorite buzzwords, "transitory." This year, he's taking aim at "soft landing."

The Harvard University professor, former Treasury secretary and paid Bloomberg contributor says a combination of high inflation and low unemployment historically has spawned a recession. So, he's skeptical that the Fed can chart a path that will see the country out of its inflationary funk without causing an economic downturn. Once again, Summers is more pessimistic than his peers, with economists pegging the chance of recession in the next…