Speaking on Wall Street Week, Larry Summers said that budget deficits are not much more serious than in the early 1990’s. Summers noted that government debt then was about 30% of GDP, while now it is above 100% Noted that deficits are now likely to be 10% of GDP, and
Larry Summers sees a higher chance of a soft landing than he did 6 months ago, saying that although soft landings where the triumph of hope over experience, “occasionally hope does triumph over experience.” However, Summers says risks still remain, including the risk of a hard landing and the risk
Summary: Full Synopsis: Speaking on Bloomberg, Larry summers noted that recent jobs data was consistent with more optimistic scenarios in the economy, although he warned that “the road to a soft landing is still a difficult one.” Summers noted that although the Jobs numbers are good and the economy still