Get Ready For Stagflation
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“This is the least responsible macroeconomic policy we’ve had in the last 40 years. The primary risk to the United States economy is overheating — and inflation… Policymakers need to accept economic reality. The moment has come to move past emergency policies.”
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Larry Summers, Director, National Economic Council
Larry Summers knows what he is talking about. A former Secretary of the Treasury, president of Harvard University and Director of Economic Policy under President Obama, his warnings merit attention.
Both fiscal (Biden’s $6 trillion budget) and monetary (money supply up 25%) policies under the current presidential administration are irresponsible, given the economic recovery.