Business Insider: Sept. Jobs Report Shows Inflation is Not Under Control and the Economy is 'Headed for a Collision of Some Kind,' Larry Summers Says

Article by Jennifer Sor in Business Insider

The September jobs report showed that inflation was still not under control, according to former Treasury Secretary Larry Summers, who warned on Friday that the economy was likely "headed for a collision of some kind."

A looming recession has been weighing on markets all year, as the central bank scrambles to hike rates and bring down soaring inflation. After seeing prices hold high despite three aggressive rate hikes this year, Powell took on a more hawkish tone and said the Fed would now try for a "softish" landing – a sign that recession risks are growing as the central bank struggles to cool the economy down.

The economy is .......

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