Top Obama Economic Advisor: ‘Whole Range Of Indicators’ Point To Coming Recession

Top Obama Economic Advisor: ‘Whole Range Of Indicators’ Point To Coming Recession


Former Obama administration economic adviser Larry Summers warned Sunday that all precedents in the economy are pointing to a recession happening in the next two years. 

Summers, appearing on “Meet The Press,” told NBC News host Chuck Todd that “a whole range of indicators” — including markets, relative levels of interest rates at different durations, consumer expectations, and supply and demand — are pointing toward a recession, which is defined as two consecutive quarters of negative economic growth. 

“All of that tells me that, while I wouldn’t presume whether to judge the timing, the dominant probability would be by the end of next year we will be seeing a recession in the American economy,” said Summers, who also served as treasury secretary in the 1990s. He also

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