Larry Summers sends stark inflation warning to Joe Biden
CNN
Larry Summers is urging Washington to tap the brakes on stimulus — or risk unleashing a serious burst of inflation.
"I think policy is rather overdoing it," Summers said in recorded comments at a CoinDesk conference that were released Wednesday. "The sense of serenity and complacency being projected by the economic policymakers, that this is all something that can easily be managed, is misplaced." The former Clinton and Obama official took issue with how the Federal Reserve and fiscal powers continue to turbo-charge the economy even though the once-real risk of a catastrophic deflationary spiral has since faded.
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