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.

Lawrence Summers warns of a near 50% U.S. recession risk in 2023, citing policy uncertainty, tariffs, and protectionism.

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.