QUOTE OF THE DAY: Larry Summers Keeps Dropping Truth Bombs

Economist Larry Summers predicted an extended period of both inflation and economic stagnation at a panel discussion last month.

THE QUOTE

Summers, who served as President Clinton’s Treasury Secretary and as the chairman of the National Economic Council under President Obama, gave a grim prognosis of the U.S. economy at an installment of the Aspen Institute’s McCloskey Speaker Series.

  • “A best guess — not a certainty, but a best guess — is that there will be a stagflationary tendency in our economy for the next several years,” he said.
  • Summers, who’s been hailed for predicting the Biden-era inflation explosion and has been a vocal critic of aspects of the White House’s economic policy, also noted: “Every time we have had unemployment below four percent and inflation above four percent, we have had a recession within the next two years.”
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