Summers Argues a U.S. Recession Is More Likely Than a Soft Landing - Lawrence Summers

April 14, 2022, Audio: "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 a downturn. Once again, Summers is more pessimistic than his peers, with economists pegging the chance of recession in the next year at just 27.5% in a recent Bloomberg survey."

HKS Faculty Author - Lawrence Summers