On Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist Larry Summers stated that “we’re now facing real risks of a 1970s-type scenario…the same …
On Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist Larry Summers stated that “we’re now facing real risks of a 1970s-type scenario…the same kind of broad phenomenon of stagflation.” And that this is partially “a response to the excessive stimulation of the economy during 2021.” Summers stated that monetary policy is effective at tamping down inflationary pressures, “but it may not be an effective tool without engineering a slowdown in the economy.
