Ep. 245 Cutting Larry Summers Some Slack on His Labor Market Remarks
Bob Murphy Show
00:00
Is a Recession Necessary?
I don't think there are historical precedents for inflation at the rate we now have. It coming down to the target the fed has set of two %, without a recession. Most what you need to do to reduce inflation is reduced demand. And that is a very hard process to control, and so it usually leads to a recession. The dominant probability would be that by the end of next year, we would be seeing a recession in the american economy.
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