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The Independent UK
The Independent UK
Mike Bedigan

Ex-treasury secretary predicts recession with 2 million more Americans unemployed

Donald Trump Larry Summers Recession Bill Clinton United States White House

Former Treasury Secretary Larry Summers has predicted that the U.S. is headed for a recession that may leave some two million Americans unemployed.

Summers, who held the post during the presidency of Bill Clinton and now teaches at Harvard University, said individual households could see a $5,000 loss in income from the potential economic downturn.

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