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Larry Summers, Professor of Economics at Harvard and ex-Treasury Secretary and Chief Economist at the World Bank, has been making lots of waves of late.
Larry Summers, Professor of Economics at Harvard and ex-Treasury Secretary and Chief Economist at the World Bank, has been making lots of waves of late. He's expressed his fears that inflation would come in stronger than the Fed expected -- he was right -- and now he's predicting that there's a 40% chance of a recession ahead as the Fed tightens to reduce inflationary pressures and higher wages force cutbacks in business output. Come up with your own forecast of the next year or two, factoring in new trends like o supply chains issues (that seem to be easing, by the way) . Fed policy that will turn contractionary o a new $1.7 trillion infrastructure bill to be passed by Congresss continuation of the rising trend of worker retirements o possible weakening of the dollar alongside rising tensions with Russia
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