Larry Summers suggested that recent history suggests inflation will not subside as fast as many want it to.
“Today’s consensus view that inflation will come way down is, as this figure from Jim Reid at Deutsche illustrates, outside the range of normal historical experience.”
The former treasury secretary from the Clinton administration also said historic inflation since 1970 is too generous when considering various trends that play a factor in today’s economy. Almost never does high inflation come down fast. Today's consensus view that inflation will come way down is, as this figure from Jim Reid at Deutsche illustrates, outside the range of normal historical experience.
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