From the opinion pages of the Wall Street Journal, this is Free Expression with Jerry Baker.

Hello and welcome to Free Expression with me, Jerry Baker, from the Wall Street Journal editorial page.

Thanks very much for listening. If you're not already a subscribe, please do sign up at Apple Podcasts, Spotify, or wherever you listen to your podcasts, please leave us a nice

review. This week, inflation, recession, the Federal Reserve, and all that, plus the state of

free speech in America. I'm talking with Larry Summers, leading economist, former Treasury Secretary,

an influential voice in the Democratic Party on what's next for the US and global economy.

Is inflation close to being beaten?

How much further will the Fed need to go to contain it?

And will we manage to avoid a deep recession?

Also, of course, Summers was once president of Harvard University.

I'll be asking him of his concerns about the threats to free expression in American education and the growing danger

of a lack of ideological and intellectual diversity on campus. Larry Summers joins me now.

You're the first of my guests come back for a repeat visit, so thank you very much indeed.

Thanks for being here. Glad to be with you. When we spoke just under a year ago, you were saying

then, as you had been saying for some time, that inflation

was a much more serious threat to the US economy, indeed to the global economy, particularly

to the US than many people, both in the administration and in the Federal Reserve, had been

saying, you'll have heard this many, many times by now, you were proved right, they were wrong,

or you were at least much more right than they were.

We did see inflation

being far from transitory, and the Fed has been racing to catch up and raising interest rates very

aggressively. In the last few weeks, I think it's fair to say, with evidence of some quite

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