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Lawrence H. Summers on the future of inflation and the Fed's response

Washington Post Live

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Is There a Durable Reduction in Inflation?

Inflation fell a little bit in april, to eight point three %, but it still near a forty year high. I i'm curious, you've talked about significant additional interest rate increases. If that programme that you advocate was followed, how long do you think it would take to bringan inflation down? David, is very hard to say, because a, nobody can forecast what's going to happen to oil prices. And right now, if the labor market's so tight, i don't see such a meaninful reduction in a wage growth a taking place. Perhaps perhaps it will. But i would be surprised if, like last year, we didn't have inflation wayway

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