Potential recession to land next summer, says former treasury secretary

InflationMoney Matters
Written By Jennifer Joslyn

While predictions are that the recession will be “mild”, Former US Treasury Secretary Larry Summers is echoing what many have been stating: a recession is coming, and the public should be prepared. Summers says that once inflation rates ballooned over 5%, it was almost guaranteed. This past September, inflation rose by 8.2% on an annual basis.

Unemployment is predicted to rise to 6% and the Federal Reserve is expected to raise rates again after their next meeting in early November.

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Jennifer Joslyn
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