Larry Summers, former U.S. Secretary of Treasury under President Bill Clinton, has stated that there is a “very high likelihood” of a recession befalling the United States in the near future, putting the economic expert at odds with many members of the current executive administration.
In an interview on Monday with CNN’s Fareed Zakaria, the influential economist and Democrat expressed his belief that a recession has become a very likely prospect in the near future, while expressing skepticism of the notion that the Federal Reserve and other economic policymakers can solve the problem of rampant inflation without triggering a recession—a so-called “soft landing.”
