“Soft landings are the triumph of hope over experience," he said.
Goldman economists view protectionism and climate change as significant risks for growth through the next five decades.
Citigroup now sees the world economy growing 3% this year and 2.8% in 2023.
The Gramercy Fund chair said the Fed shouldn't have stuck to the story about transitory inflation.
Her comments came as the International Monetary Fund is preparing to cut its forecasts for global growth.
The U.S. is less vulnerable than many because it invests more in security and has stricter regulatory requirements.
Policymakers recognize inflation as a bigger risk than the pandemic.
A government report this month showed the unemployment rate for Black Americans rose to 7.1% in December.
Global gross domestic product will be lifted by the continued recovery from the pandemic, a new report says.
The Fed's failure to identify and address prolonged inflation may send the economy into "a slump," said Summers.
Please log back in before proceeding.
There was an error logging in. Please try again.
Congrats! You are now logged in. Your exam is being submitted.
