Commenting on the policy trajectory of the US Federal Reserve (Fed), the former US Treasury Secretary Lawrence Summers he noted that Fed policymakers must take strong action to quell rising inflation.
Featured Statements
“We need strong action from our central bank“.
“A soft landing for the US economy is highly unlikely.”
“There is a very high probability of recession when we’ve already been in this kind of situation.
“The recession has essentially always followed when inflation has been high and our employment has been low.”
“There are many things we can do to contain or control inflation.”
“But if we continue with the kind of ostrich policies that we had in 2021, there is going to be much, much more pain afterwards.”
Source: Fx Street
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