Summers Sees Near 50-50 Chance of a Recession This Year
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Former Treasury Secretary Lawrence Summers said there’s almost a 50-50 likelihood of the US tipping into a recession this year due to a range of policy steps from the Trump administration that are undermining confidence.
“We’ve got a real uncertainty problem, it’s going to be hard to fix that,” Summers said in an interview on Bloomberg Television’s Wall Street Week with David Westin. “We’re looking at a slowdown relative to what was forecast, almost for sure, and a serious, near 50% prospect of recession.”