Larry Summers said the Fed could pull off a soft landing but warned the US economy is still not 'out of the woods'

• The Fed could pull off a soft landing but the US economy "isn't out of the woods", Larry Summers said.
• Investors are debating the possibility of a "soft landing" after a series of aggressive Fed rate hikes.
• Inflation is still too high and a strong January jobs report could make it difficult to ease monetary policy, the Nobel Prize-winning economist said.

Former Treasury Secretary Larry Summers says he's encouraged about the prospect of the Federal Reserve pulling off a soft landing but warned the US economy is still not "out of the woods."