Summers Warns Inflation Cannot Reach 2% Without a Recession


The article discusses the potential for high inflation during the summer of 2023. It is expected that inflation could reach five percent, which would be the highest in almost a decade. Other economic conditions, such as the labor market and wages, could also contribute to this inflation. Despite this, economists think a major downturn is unlikely. This is because the current economic conditions are substantially different from ten years ago, and the government has implemented various fiscal and monetary policies to adjust to the situation. In conclusion, the summer of 2023 might see inflation of five percent, but it should not lead to a major economic downturn.