Tech Insider
Economy
Larry Summers
Former Treasury Secretary Larry Summers speaks at the Spring Meetings of the International Monetary Fund and the World Bank in Washington, DC, on April 16, 2015.

NICHOLAS KAMM/AFP via Getty Images

  • Former Treasury Secretary Larry Summers said the jobs data suggests inflation could see a rebound.
  • July's jobs report showed an unexpected drop in the unemployment rate and a gain in average hourly earnings.
  • "If you look at wage inflation, it was faster for the month than for the quarter, faster for the quarter than for the year."

Former Treasury Secretary Larry Summers still sees a path forward for the US to avoid a recession, but he said the July jobs report suggests the war with inflation isn't over yet. 

Tags
economy, Markets, Larry Summers, Federal Reserve, Investors, Treasury, Inflation, Policy, Fed rate hikes, Jobs, Labor Market
Source
Ex-Treasury chief Larry Summers says it's still too early to declare victory on…