Former US Treasury Secretary and Harvard University professor Lawrence Summers warned that although the US economy may still grow rapidly, the risk of a sudden recession still exists, or it may encounter difficulties within a few months. In an interview with CNN, Summers said the federal funds rate is expected to rise to 5.5% from a current 4.5-4.75%, and could even reach 6% given economic uncertainty. Based on the past, the continuously raising interest rates to curb inflation will soon trigger an economic recession.
Former US Treasury Secretary: The US Economy may Encounter Difficulties Within Months
Former US Treasury Secretary and Harvard University professor Lawrence Summers warned that although the US economy may still grow rapidly,
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