HKS Affiliated Authors

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

Excerpt

March 15, 2022, Opinion: "As the Federal Reserve moves this week to raise interest rates by a quarter of a percentage point, there is much discussion over the likelihood that the central bank can achieve a soft landing in the economy. While engineering a soft landing is historically very rare, Fed Chair Jerome Powell told lawmakers in early March that he believes achieving a soft landing is “more likely than not.” The Fed’s latest forecast, as well as the consensus forecast from the Federal Reserve Bank of Philadelphia’s Survey of Professional Forecasters (SPF), supports this claim: in both forecasts, inflation recedes to below 3 percent and unemployment remains below 4 percent over the next year."

HKS Faculty Author - Lawrence Summers
HKS Author - Alex Domash