The odds of a recession in the next year are 70% and the US has a stagflation problem brewing, former Treasury Secretary Larry Summers says
The US has a 70% risk of tipping into a recession within the next year as stagflation is beginning to take shape in the economy, according former Treasury Secretary Larry Summers.on Saturday, Summers pointed to worrisome inflation indicators, such as the Employment Cost Index, which rose 4.8% in the first quarter of 2022.
"That doesn't mean the Fed's objective should be to induce a slowdown, but if the Fed does what's necessary to contain inflation, I think a slowdown is likely to come along," Summers said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Utah man, 70, survives cougar attack while on a solo hikeRay Nielsen, 70, was hiking alone Thursday afternoon when he was blindsided by a mountain lion. After a brief struggle, Nielsen threw a rock at the animal and it ran away.
Weiterlesen »
Park rangers: 70-year-old man fends off cougar attack with rockThe unidentified man told authorities that he was hiking through some trees when a cougar jumped out and knocked him to the ground.
Weiterlesen »
Disney Finally Fixes Peter Pan's Controversial Tiger Lily Story After 70 YearsDisney’s original portrayal of Tiger Lily in Peter Pan (1953) was widely criticized. But Tiger Lily in Peter Pan & Wendy (2023) is above reproach.
Weiterlesen »
AI chatbot usage causes concern among 70% of Japanese adultsThe survey comes only weeks after Japanese officials expressed their support for OpenAI and said the technology could be integrated into government systems.
Weiterlesen »
Cooler Monday on tap before 70-degree heat returns for next two daysAfter a cooler, cloudier Monday, 70-degree temperatures are returning to the region for the next two days.
Weiterlesen »