Summers sees turbulence ahead with market complacent about inflation

Bloomberg/Chris Antsey/2-10-2023

“Summers cautioned that a number of factors that had been helping pull inflation down may reverse. One sign of that dynamic came from used-car prices, which climbed 2.5% last month — the most since the end of 2021, according to an industry report on Tuesday. Gasoline prices have also risen this year.”

USAGOLD note: Seems to be the theme of the day …… Summers joins an expanding group of economists worried about inflation quietly building in the background. He says we are “headed into what is likely to be a turbulent period.”