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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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  • Larry Summers sees a 70% chance that the US economy will face a recession. 
  • "I think that puts me at the pessimistic end of the spectrum of opinion," the former Treasury Secretary said. 
  • Monetary-policy lags and the risk of a credit crunch are just some of the factors raising the odds of a downturn, Summers said. 

Former Treasury Secretary Larry Summers has warned there's a 70% chance the US economy will slip into recession. 

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Markets, MI Exclusive, Larry Summers, Treasury Secretary Larry Summers, Banking, Credit Crunch, Recession, US Recession, Interest Rates, Inflation, Fed, Federal Reserve, fed inflation, US Economy and Markets, Banking Crisis, Monetary Policy, Dr. Doom Nouriel Roubini
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There's a 70% chance of a US recession thanks to the Fed's fight against inflat…