HKS Affiliated Authors

Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor


December 15, 2022, Video: "The Federal Reserve is signaling there are more interest rate raises to come, after raising the interest rate for the seventh time this year, stoking fears that they could tip the economy into a recession. Former Clinton Treasury Secretary Larry Summers joins Andrea Mitchell to discuss. “My guess is that the Fed will in the end have to suffer through a recession, if we're going to bring inflation down,” says Summers. “We’re not stopping inflation for the sake of stopping inflation or stopping inflation for the sake of higher incomes for people in terms of purchasing power,” he explains. “And we're stopping inflation for the sake of avoiding worst recessions and worst economic instability, down the road.”"