U.S. economy will fall into a recession this summer, as inflation eats into consumer spending, former Fed official warns

Higher inflation will force consumers to limit their spending by so much that the economy will slump into a recession by the July-September quarter, former Federal Reserve Governor Lawrence Lindsey said on Monday.

“I do think we’re going to have a recession, probably in the next quarter,” Lindsey said, in an interview on CNBC.

“Inflation…