Former Obama Economist: 'Fed's Current Policy Trajectory Is Likely to Lead to Stagflation', 'Ultimately to a Major Recession'

The same expert who warned last year that President Joe Biden’s big spending would trigger “inflationary pressures of a kind we have not seen in a generation” is back with a dire warning that America is being steered into a recession.

Lawrence Summers, an economist who advised former President Barack Obama, issued his warning in an Op-Ed published Tuesday in the Washington Post.

Summers said that although the Federal Reserve is hoping to rein in inflation, which is at levels not seen since 1982, he has his doubts.