Former Obama Economic Advisor and Treasury Secretary Warns That ‘a Recession is Ahead’ (VIDEO)

Former Obama Economic Advisor and Treasury Secretary Warns That ‘a Recession is Ahead’ (VIDEO)


Former Obama economic advisor and Treasury Secretary Larry Summers has warned that “a recession is ahead.”

Summers said that previous situations with high inflation and unemployment, like the one we are currently in, have led to recessions within a “year or two.”

“Look, nothing is certain and all economic forecasts have uncertainty. My best guess is that a recession is ahead,” Summers said while appearing on NBC’s “Meet The Press.” “I base that on the fact that we haven’t had a situation like the present with inflation above 4 percent and unemployment beyond 4 percent without a recession following within a year or two.”

Trending: Thousands Of Flights Cancelled As Pilots Strike Before 4th Of July

Summers added that it’s likely “that in order to do what’s necessary to stop inflation. the Fed is going to raise

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend