In an interview published in the Friday issue of Bloomberg Wall Street Week, Larry Summers, an economist, professor at Harvard, director of the National Economic Council under President Barack Obama, and Secretary of the Treasury under President Bill Clinton, said the possibility “maybe two. three.” or three-quarters of the time we will have a recession that starts somewhere in the next two years.” And “the prospect of a recession seems more realistic to the markets than it was a few months ago”.
summers said:[T]When we got out of the recession for the next two years, there wasn’t a moment when unemployment was below 4 and inflation was above 4. And that just shows the enormous complexity of the job facing the Fed. In my own view, we’re more likely to have a recession that starts somewhere in the next two years, maybe two-thirds or three-quarters.”
He also said: “I think the prospect of a recession in the markets today seems more realistic than a few months ago. You can see this in the way some retail stocks collapse. You can see this in the widening of some credit spreads. And you see it in the behavior of the entire market.
Source: Breitbart
