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Recession Coming in Few Years, Warns Larry Summers
March 05, 2018
North America’s former Treasury Secretary Larry Summers said that the next US recession is approaching and likely to stay for longer than the last one that spanned 18 months.
Summers said that even if we take into account the upcoming Federal Reserve tightening, it will take quite some time for the interest rates to increase enough so that they can be reduced again by 500 bps which is typical of a U.S. recession. He also said that not only the next recession could come in the next few years, it’s likely to stay for a long time.
