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, 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.