Bloomberg/Chris Antsey/2-3-2023
“Former Treasury Secretary Lawrence Summers highlighted the risk of a sudden downturn in the economy after a surge in jobs growth that dwarfed expectations.’It’s as difficult an economy to read as I can remember,’ Summers told Bloomberg Television’s ‘Wall Street Week’ with David Westin.”
USAGOLD note: Even Summers was caught off guard by the Friday jobs numbers. He says the danger is that the reduction in inflation will be transitory. “I think that risk is greater than I think the Fed thinks it is,” he says.
