On Friday's broadcast of MSNBC's "Morning Joe," Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, said that while he doesn't think the economy is in a recession now, the odds are "probably more than 50%, that we have some kind of recession at some point to get inflation under control," and increasing interest rates will be "painful" "but unfortunately, it's the price we pay for having been a little bit too exuberant with our stimulus, both from the Fed and from the central government over the course of the pandemic and during the recovery."