Skip to content
Markets
Outlook

Summers Sees US Soft Landing More Possible Than Few Months Ago

  • Fed may still find it hard to get inflation down to target
  • Former Treasury chief has said job growth also carries risks
Bloomberg business news

Summers on Risks for US Economy

Photographer: Hollie Adams/Bloomberg
By

Former Treasury Secretary Lawrence Summers said a “soft landing” for the US economy is looking more likely, though inflation gauges remain too high.

“I’d say I’m encouraged, but I still think it would be a mistake to say we’re out of the woods,” Summers said in an interview on CNN’s “Fareed Zakaria GPS” broadcast Sunday. Inflation indicators remain “unimaginably high” compared to two or three years ago, and getting back to the Federal Reserve’s target “may still prove quite difficult,” he said.