Former Treasury Secretary Larry Summers says recession is 'almost inevitable,' contradicting Biden
Fox News
Larry Summers said Sunday on Bloomberg's "Wall Street Week" that a recession was "almost inevitable" in the next two years and that there was a risk it will come sooner.
Hanna Panreck is an associate editor at Fox News.
"I think a recession is almost inevitable, probably a 75%, 80% chance within the next two years, and there's certainly a real risk that it will come sooner," Summers said.
Yet President Biden said last Monday that there was "nothing inevitable about a recession," and that he talked to Summers that morning.
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