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Former Treasury Secretary Summers says US has underlying 4.5-5% inflation

Former Treasury Secretary Summers spoke, remotely, at the start of the two-day Caixin Asia New Vision Forum in Singapore today. Summers said core inflation in the US running hot:“The United States is, today, an underlying 4.5-5% inflation country,” And did not sound bullish on the chances of avoiding a US recession:soft landings “represent the triumph of hope over experience,” There is no report on his tip for the Federal Open Market Committee (FOMC) meeting this week. The FOMC statement is due... Read More

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Former

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Underlying

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Posted: Jun 12 2023, 03:30

Author Name: forexlive

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