Economist Larry Summers says White House misread inflation
| Larry Summers, a former top economic adviser to President Obama, said Wednesday that the President Biden’s White House has been “behind the curve” in their predictions about rising prices during the coronavirus pandemic.
“I think that the policymakers in Washington unfortunately have almost every month been behind the curve,” Summers said on CNN. “They said it was transitory, it doesn’t look so transitory. They said it was due to a few specific factors, [it] doesn’t look to be a few specific factors. They said when September came and people went back to school, that then labor force would grow, and it didn’t happen.” |
