Former Treasury Secretary Lawrence H. Summers believes there is still a long way to go in getting inflation down to where the Federal Reserve wants it.
“We are still in unprecedented territory in terms of the gap between vacancies & jobs. I think what that’s telling you is we have a long way to go to get inflation down to where the @federalreserve has said it wants it to be,” he said on Bloomberg TV.
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Summers also highlighted that achieving a soft landing may be much harder than thought. “My sense is that it’s much harder than many people think to achieve a soft landing …
