Former Treasury Secretary Lawrence Summers said that there’s an increasing risk the looming recession he’s anticipated will start sooner, in 2022, and that inflation may cool as a result. “The risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “If the economy did go into recession in the next six to nine months, then you’d probably see a reduction in inflationary pressures.” Data this week showed that consumers have been scaling back their purchases after enduring an ever-increasing climb in ... (full story)