Summers Sees Consensus Building Toward Inevitable U.S. Recession

Former Treasury Secretary Lawrence Summers predicted that the consensus among economists will increasingly fall in line with the U.S. tipping into a recession next year.

“The combination of overheating, followed by policy delay followed by supply shocks means I think it’s a very difficult set of challenges, and recession in the next couple of years is clearly more likely than not,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin on Friday. “I suspect that’s how the consensus will evolve.”