In an interview with Chuck Todd on NBC’s Meet the Press, Summers said, “Nothing is inevitable or certain in economics. We can make a contribution by doing things like strategic petroleum reserve release, tariff reductions which could take a percentage point off of CPI and looking at immigration flows to address labor shortages.”
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Ezra Klein podcast: I Keep Hoping Larry Summers Is Wrong. What if He’s Not?
March 29th, 2022
For over a year now, Summers has been warning about the economy that we appear to be entering. Listen here to Ezra Klein podcast on New York Times.
The Fed is charting a course to stagflation and recession
When the long-awaited process of raising interest rates begins Wednesday, market observers will fixate on the precise words used in the Fed statement and during Chair Jerome H. Powell’s news conference. The focus will be on what they signal about the number of rate increases coming this year and next, as well as the schedule for selling down the bonds the Fed accumulated during the pandemic.
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