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MarketsEconomicsLong, Moderate and Painful: What Next US Recession May Look LikeUS lacks buildup of leverage that preceded past deep downturnsBut Fed may not ride to rescue, given its inflation missionWATCH: Former US Treasury Secretary Lawrence Summers sees an increasing risk that a recession will start this year.Source: BloombergByRich Miller+FollowJuly 3, 2022, 2:00 PM UTCSign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Recessions, like unhappy families, are each painful in their own way.
