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A Recession Won't Be as Scary as It Sounds

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A Recession Won't Be as Scary as It Sounds

Bloomberg Opinion May 12, 2022
EconomicsOther

While the Fed’s inflation fight could throw the economy into reverse, a mild slowdown now might help avoid a deeper downturn later.

Inflation like this can’t last forever. How it will end is now the more salient question. Often it takes a recession to break inflation. Economist Lawrence Summers observed that this has been the case every other time inflation was this high and the labor market was this tight.

Continue reading the entire piece here at Bloomberg Opinion (paywall)

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Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.

Photo by LilliDay/iStock

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