The US economy may be inching closer to the cliff edge given these 4 troubling signs, Larry Summers says
Former Treasury Secretary Larry Summers highlighted four troubling signs of potential risks to the US economy's current robustness. on Thursday, Summers suggested investors may be too upbeat about recent economic data, including a strong labor-market figures and a surge in retail sales in January.
While those indicators"look very strong," the former Harvard University professor said, there's still worrying signs that the US could experience a Wile E. Coyote moment, referring to the Looney Tunes character who runs off cliffs, realizes he's standing in midair, then drops like a stone. "On one hand, we have this current robustness and concern about inflation. On the other, there is stuff when you look down the road a bit that has to be substantially concerning about a Wile E. Coyote kind of moment," Summers said. As a result, he warned the Federal Reserve needs to stay nimble and flexible given the continued uncertainty about the US economy.
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