Former Treasury Secretary Lawrence Summers said there’s almost a 50-50 likelihood of the US tipping into a recession this year due to a range of policy steps from the Trump administration that are undermining confidence.

Former Treasury Secretary Larry Summers said Monday that the odds of a recession are “close to 50/50.” “I told [Kasie Hunt] @CNN today, I think there is a real possibility of a recession,” Summers said in a thread on the social platform X.

Former Treasury Secretary Lawrence Summers said there is almost a 50% chance of a recession for the U.S. this year due to policy changes from the Trump administration and uncertainty in the markets. During a Bloomberg TV interview,