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US Likely Headed to Recession, 2 Million Jobless: Summers
Posted
April 10, 2025
Views
17,789
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Engagement
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April 10, 2025
17,789
478
39
2.91%
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1:43Now PlayingFormer Treasury Secretary Lawrence Summers warned that the US is now likely headed toward a recession, with potentially 2 million Americans put out of work, thanks to the tariff increases now in train.
“It’s more likely than not that we’re going to have a recession — and in the context of a recession, we’ll see an extra 2 million people be unemployed,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “We’ll see losses in household income” of $5,000 per family or more, he said.
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