Larry Summers, who served as Treasury Secretary under former President Bill Clinton and director of the National Economic Council under former President Barack Obama, warned during multiple interviews this week that inflation is even worse than he suggested it might be when he commented on the matter earlier this year.
“We have a generation of central bankers who are defining themselves by their wokeness,” Summers said. “They’re defining themselves by how socially concerned they are.”
Summers went on tot say “we’re in more danger than we’ve been during my career of losing control of inflation in the U.S.” He added that he believes the U.S. is facing “a pretty unstable financial environment.”
