Larry Summers, chair of the National Economic Council, said there were signs that worst may be over but warned that “it is a long road and it is going to take time” after the damage inflicted on the financial system.
“There are downside contingencies that we’ve got to prepare for, issues in the global economy, in commercial real estate. We can’t know with certainty what’s going to happen next, and there certainly are real risks ahead,” he said at the Americas summit in Trinidad.