Ex-Treasury Secretary Predicts ‘70 Percent’ Chance Recession Begins This Year

Ex-Treasury Secretary Predicts ‘70 Percent’ Chance Recession Begins This Year
Ex-Treasury Secretary Lawrence Summers during a press conference in Venice, Italy, on July 9, 2021. Andreas Solaro/AFP via Getty Images
Jack Phillips
Jack Phillips
Breaking News Reporter
|Updated:
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A recession is most likely right around the corner, said a former Clinton and Obama administration official in a Sunday morning warning.

“The chance that a recession will have begun this year in the U.S. is probably about 70 percent. I think that puts me at the pessimistic end of the spectrum of opinion,” he wrote on Twitter.
Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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