The US economy could face a “Wile E. Coyote moment” as the Federal Reserve struggles to bring down persistent inflation, according to ex-treasury secretary.
The US economy could face a “Wile E. Coyote moment” as the Federal Reserve struggles to bring down persistent inflation, according to ex-Treasury Secretary Larry Summers.
“I’ve used the term ‘risk of a Wile E. Coyote moment’ to refer to the fact that the economy could hit an air pocket in a few months,”“My guess is that the overhang, the savings that consumers have accumulated has a few more months to run, but it doesn’t have another year to run,” Summers added. “My guess is that the process of bringing down inflation will bring on a recession at some stage, as it almost always has in the past,” he added.
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