Getting High Is Dangerous, Being High Might Not Be

Former treasury secretary Larry Summers says it is “substantially” more likely than not, “almost inevitable”, that we will enter recession territory in 2023. He expects the downturn to be relatively short and mild, nothing “like the 2008 financial crisis … or the terrible things that happened after the pandemic started.” But “unemployment is likely to rise towards 6 per cent, that’s … not an easy thing.”