Larry Summers thinks quiet quitters are ruining the economy
Former Treasury Secretary Larry Summers worries about "silent quitters" undermining U.S. worker productivity.
Summers, a former Harvard University president and World Bank top economist, is unlikely to debate the social media trend.
This year, TikTok and Instagram popularised "quiet quitting."
Summers worries that these silent quitters may increase September's 8.2% inflation, compelling the Federal Reserve to raise interest rates and causing a recession.
She said that corporations must recruit more people to do the same job when productivity lowers.
Costs rise, therefore firms raise prices. This vicious cycle may put "upward pressure on inflation" for a "considerable time," according to Yellen.
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