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Larry Summers says the US WILL have a recession and gas prices will keep going up

Top Obama economic adviser Larry Summers says there WILL be a recession and gas prices will keep going up after Treasury Secretary Janet Yellen insisted the economy was going to recover

  • ‘There’s nothing to suggest that there’s a recession in the works,’ Yellen said at a New York Times economic forum last week
  • Asked if he thought Yellen was right on CNN’s State of the Union Sunday, Summers replied: ‘No’ 
  • ‘I think when inflation is as high as it is right now and unemployment is as low as it is right now it’s almost always been followed within two years by recession’
  • In a veiled at Yellen and other economists, he said: ‘I think the optimists were wrong a year ago in saying we have no inflation and I think they’re wrong now’

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