Summers: 25% odds of a recession

Bloomberg Television published this video item, entitled “Summers: 25% odds of a recession” – below is their description.

Lawrence H. Summers, Former Treasury Secretary explains why it might be premature to declare victory over inflation. He also dives into the importance of the meeting between President Biden and Xi Jinping.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: XI Jinping

Xi Jinping has been the President of China since 2013 and General Secretary of the Chinese Communist Party (CCP) and Chairman of the Central Military Commission (CMC) since 2012.

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