Washington, D.C. – President Clinton’s Treasury Secretary and President Obama’s National Economic Council Chair, Larry Summers, who spoke to President Biden last week about his concerns regarding rising inflation, made those concerns public yesterday. During a conversation at the Qatar Economic Forum, Summers said:
“Much of the consensus of professional forecasters in February was that we would have inflation just above 2% this year…We’ve already had more inflation than that in the first five months of the year.”
This is not the first time that Summers has spoken about the real risk of inflation. In a May op-ed he warned that excessive government spending would overheat the economy.
Summers’ sentiments are also shared by voters in battleground states, according to NRSC & RGA Polling that found a majority of voters blame Biden’s economic policies for the recent spike in inflation. See below:
Statement from NRSC Spokesman T.W. Arrighi: “It’s tough to find consensus when debating economics, except when the topic is President Biden’s inflation crisis. According to polling, the majority of battleground state voters – and the majority of independents – blame Biden and Senate Democrats’ spending for rising prices and the growing financial squeeze on American families. With more spending packages being dreamt up by liberals every day, we aren’t out of the inflation woods yet, and Democrats are in for an ‘I told you so’ moment from Larry Summers.”
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