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Larry Summers
Lawrence Summers, then Director of President Barack Obama's National Economic Council, participates in a question-and-answer session during a luncheon with the Economic Club of Washington at the J.W. Marriott April 9, 2009 in Washington, DC.

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  • Former Treasury Secretary Larry Summers says a rise in the Fed's preferred inflation gauge is "very troubling."
  • PCE inflation accelerated in January, while consumer spending rose too.
  • Summers says he'd now be surprised if the Fed avoided a recession while bringing down inflation.

Former US Treasury Secretary Larry Summers described the latest rise in the Federal Reserve's preferred inflation gauge as "very troubling" as he renewed his messaging that a recession was likely.

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Markets, MI Exclusive, Larry Summers, Inflation, Interest Rates, Recessions, Recession, economy
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Larry Summers says increases in the Fed's preferred inflation gauge are `very t…