Former US Treasury Secretary Summers said US monetary officials need to finish the highest level of inflation control in about 40 years.
“We need decisive action from the US financial authorities,” he said in an interview with CNN TV show “Farried Zakaria GPS.”
Mr Summers said the Federal Reserve’s commitment to curb inflation was “reassuring,” while skeptical that the US economy was “very unlikely” to achieve a soft landing.
“If you look at cases like this in the past, it’s very likely that you’ll have a recession,” said Harvard University professor and Bloomberg Television contributor. “High inflation and low unemployment continue. After that, it has basically always been a recession. “
The US government also called on Congress to raise taxes again, saying there was more it could do to curb inflation.
Parliament “Tax Raises Now” -Fed Support in Fighting Inflation, Summers
news-rsf-original-reference paywall">Original title:
news-rsf-original-reference paywall">Summers Says Fed Needs to Take Strong Action to Curb Inflation（抜粋）
