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How economist Larry Summers predicted US inflation

Back in February, Larry Summers was sounding the alarm bell about inflation when no one was talking about it.

"It seemed obvious to me that we were gonna have massive demand, and we weren't gonna have such large supply."

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Podcast: Inflation nation: How Larry Summers predicted skyrocketing prices in the US

Listen: As the holiday shopping season gets underway, consumers are facing empty shelves and sky-high prices. What explains the supply chain crunch and how is it related to the highest levels of inflation in the US in 30 years? On the GZERO World podcast, Ian Bremmer is joined by economist Larry Summers, who served as the Treasury Secretary under President Clinton and as the Director of the National Economic Council under Barack Obama.

Subscribe to the GZERO World Podcast on Apple Podcasts, Spotify, Stitcher, or your preferred podcast platform to receive new episodes as soon as they're published.

Think buying American will help ease inflation? Larry Summers says it won’t

Many Americans believe the best way to fight rising prices is to purchase US-made goods, in theory, less affected by COVID-fueled disruptions to global supply chains.

For former US treasury secretary Larry Summers, they're wrong.

"I think the right thing to do is to buy cheap and buy inexpensive."

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