This article is from CNN!
Inflation is back. Biden should be worried
https://www.cnn.com/2021/05/25/business/inflation-economic-growth-biden/index.html
Larry Summers, the Clinton-era Treasury secretary, is sounding the alarm on inflation via a series of increasingly urgent warnings.
In an op-ed titled "The inflation risk is real," Summers wrote in the Washington Post Monday that overheating is now the "primary risk" facing the US economy. The former Obama official said the Fed may need to begin to tighten policy and urged the Biden administration to "move past emergency policies," including addressing a growing shortage of workers.
Everything is getting more expensive. That's especially bad news for low-income Americans.
Noting that inflation spikes "disproportionately hurt the poor" and are linked to diminished trust in government, Summers reminded progressives that inflation played a big role in electing Republican presidents in 1968 and 1980.
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