Larry Summers: More likely the Fed can pull off a soft landing, but don't get hopes up

Key Facts

05:49 - Source: CNN New York CNN — After a shocking jobs report, Larry Summers, treasury secretary under Bill Clinton, said he is more encouraged the Fed can pull off a soft landing, but cautioned it is a “big mistake” to think the economy is “out of the woods” on Fareed Zakaria GPS Sunday.
Summers said it “looks more possible that we’ll have a soft landing than it did a few months ago,” but he has continued fears about inflation indicators that have come back to earth, but are still too high for his liking.
“You don’t get to be a CEO if you don’t love being in the office,” Summers said.
“I would advise him that it’s not a viable strategy for the country to default on obligations,” Summers said.