Last year, Larry Summers famously shot down one of the Federal Reserve's favorite buzzwords, "transitory." This year, he's taking aim at "soft landing."

The Harvard University professor, former Treasury secretary and paid Bloomberg contributor says a combination of high inflation and low unemployment historically has spawned a recession. So, he's skeptical that the Fed can chart a path that will see the country out of its inflationary funk without causing an economic downturn. Once again, Summers is more pessimistic than his peers, with economists pegging the chance of recession in the next year at just 27.5% in a recent Bloomberg survey.

This week, Summers shares his thoughts on why the Fed needs to be more willing to acknowledge what he calls its monetary policy failures. He also comments on why he thinks some recent Biden administration moves to ease prices increases will be ineffectual, and about why he thinks Americans need to sacrifice more in order to punish Russia for the "worst threat in 75 years of naked aggression."

Last year, Larry Summers famously shot down one of the Federal Reserve's favorite buzzwords, "transitory." This year, he's taking aim at "soft landing."The Harvard University professor, former Treasury secretary and paid Bloomberg contributor says a combination of high inflation and low unemployment historically has spawned a recession. So, he's skeptical that the Fed can chart a path that will see the country out of its inflationary funk without causing an economic downturn. Once again, Summers is more pessimistic than his peers, with economists pegging the chance of recession in the next year at just 27.5% in a recent Bloomberg survey.This week, Summers shares his thoughts on why the Fed needs to be more willing to acknowledge what he calls its monetary policy failures. He also comments on why he thinks some recent Biden administration moves to ease prices increases will be ineffectual, and about why he thinks Americans need to sacrifice more in order to punish Russia for the "worst threat in 75 years of naked aggression."

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Summers Predicts U.S. Recession More Likely Than a Soft Landing

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b7784ba1-ec04-4296-b122-ae77008b55e1/transcript

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