Summers: Inflation Slowdown More Than Expected But Path to 2% May Be Bumpy
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Summers says "transitory factors" behind inflation are now easing more than he expected, contributing to the slowdown.
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He cites tighter Fed policy and "bottlenecks mean reverting" as key reasons inflation slowed more than anticipated.
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Summers warns the path to 2% inflation may be more challenging than investors think.
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He still doesn't see a "soft landing" in the economy, though recession odds are only 20-25% in 2024.
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Summers says market may be too confident in the Fed and cautions inflation figures may not stay as favorable as expected.