Larry Summers Says Too Early' for All-Clear on US Financial Turmoil

The video discusses the nature of financial crises, emphasizing that they are not continuous downturns but have periods of calm. It examines the timeline from Bear Stearns to Lehman Brothers, noting the stock market's behavior and the Federal Reserve's focus on inflation. The speaker suggests that while more bank runs are unlikely, credit constriction could lead to further economic issues. The video concludes with a cautious outlook on future financial stability, highlighting the uncertainty of nonlinear effects in the economy.

How does the speaker describe the potential for credit constriction to affect asset prices?

What timeframe does the speaker mention for feeling confident about the situation regarding credit?