Tag: Larry Summers
Is Larry Summers Really Right About Inflation and Biden?
With retail prices surging, wages failing to keep up, and the Federal Reserve moving to raise interest rates, Larry Summers, the Harvard economist and former Treasury Secretary, seems to be everywhere. Last week, Ezra Klein, the Times columnist, featured Summers on his podcast. Summers is also an economic commentator for Bloomberg News, and he writes columns for the Washington Post. In one of his latest articles, he declared, “The Fed’s current policy trajectory is likely to lead to stagflation
Biden Is Looking at an Uncertain Electoral Future
The “return to normalcy” in American life is starting to look something like the horizon: It recedes whenever you approach it. For President Joe Biden and congressional Democrats anxious about the November midterm elections, nothing could be more ominous.
Last summer’s Delta wave dashed hopes that the deployment of COVID vaccines would quickly carry the United States back to a pre-pandemic stasis. The persistence of inflation undermined expectations from the Biden administration and Federal Reserve Board that high prices would