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{"id":17427,"date":"2023-02-06T02:22:57","date_gmt":"2023-02-06T00:22:57","guid":{"rendered":"https:\/\/inews24.eu\/larry-summers-says-a-soft-landing-looks-more-possible-for-the-u-s-economy-but-warns-inflation-indicators-remain-unimaginably-high\/"},"modified":"2023-02-06T02:22:57","modified_gmt":"2023-02-06T00:22:57","slug":"larry-summers-says-a-soft-landing-looks-more-possible-for-the-u-s-economy-but-warns-inflation-indicators-remain-unimaginably-high","status":"publish","type":"post","link":"https:\/\/inews24.eu\/larry-summers-says-a-soft-landing-looks-more-possible-for-the-u-s-economy-but-warns-inflation-indicators-remain-unimaginably-high\/","title":{"rendered":"Larry Summers says a soft landing \u2018looks more possible\u2019 for the U.S. economy but warns inflation indicators remain \u2018unimaginably high\u2019"},"content":{"rendered":"<div>\n<p>Former Treasury Secretary Lawrence Summers said a \u201csoft landing\u201d for the US economy is looking more likely, though inflation gauges remain too high.<\/p>\n<div>\n<p>\u201cI\u2019d say I\u2019m encouraged, but I still think it would be a mistake to say we\u2019re out of the woods,\u201d Summers said in an interview on CNN\u2019s \u201cFareed Zakaria GPS\u201d broadcast Sunday. Inflation indicators remain \u201cunimaginably high\u201d compared to two or three years ago, and getting back to the Federal Reserve\u2019s target \u201cmay still prove quite difficult,\u201d he said.<\/p>\n<p>With the pace of US price increases slowing, the economy added 517,000 new jobs in January, far exceeding estimates and driving the unemployment rate to 3.4%, the lowest since 1969.\u00a0<\/p>\n<p>\u201cIt looks more possible that we\u2019ll have a soft landing than it did a few months ago,\u201d Summers said.<\/p>\n<p>On Friday, Summers highlighted the risk of a sudden downturn in the economy after the surge in jobs growth.\u00a0<\/p>\n<p>The question is whether the income will be spent and lift the economy or whether companies at some point conclude they have too much inventory and\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-03\/summers-sees-risk-of-sudden-stop-in-economy-after-jobs-surge\" target=\"_blank\" rel=\"noreferrer noopener\">too many workers<\/a>, leading to a \u201cfairly sudden stop,\u201d Summers, a Harvard University professor and paid Bloomberg contributor, said on Bloomberg Television\u2019s \u201cWall Street Week\u201d with David Westin.<\/p>\n<\/div>\n<p>Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. <a href=\"https:\/\/mynewsletters.fortune.com\/trust-factor\/\" target=\"_self\" rel=\"noopener\" class=\"broken_link\">Sign up here.<\/a><\/p>\n<\/div>\n<p><a href=\"https:\/\/fortune.com\/2023\/02\/05\/larry-summers-soft-landing-more-possible-economy-but-inflation-remains-unimaginably-high\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Treasury Secretary Lawrence Summers said a \u201csoft landing\u201d for the US economy is looking more likely, though inflation gauges remain too high. \u201cI\u2019d say I\u2019m encouraged, but I still think it would be a mistake to say we\u2019re out of the woods,\u201d Summers said in an interview on CNN\u2019s \u201cFareed Zakaria GPS\u201d broadcast Sunday. 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