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Demonstrators call for US President Joe Biden to cancel all student loan debt in Washington, DC.

Bryan Olin Dozier via Reuters Connect

Biden forgives (some) US student loan debt

The White House on Wednesday unveiled President Biden’s long-awaited plan to tackle soaring student debt in America, which currently sits at a whopping $1.6 trillion.

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What We Need To Know To Fix US Inflation | Economist Austan Goolsbee | GZERO World

What we need to know to fix US inflation

The recipe to fixing inflation depends on whether you see it as a demand or supply problem, economist and University of Chicago professor Austan Golsbee tells Ian Bremmer on GZERO World.

If inflation is being driven by too much stimulus, as economist Larry Summers believes, then the Federal Reserve is doing the right thing by raising interest rates to cool demand, Goolsbee explains. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

US inflation is at a 40-year high and is therefore drives the perception among Americans that the economy is bad.

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Ask An Economist: How to Lower Inflation | GZERO World

Ask An Economist: How to lower inflation

US inflation is now at a 40-year high. So, what are we going to do about it?

That depends on where you think the problem is coming from, American economist and University of Chicago professor Austan Goolsbee says on GZERO World with Ian Bremmer.

If inflation is being driven by too much stimulus, like some economists such as Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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Larry Summers' View: What Caused US Inflation And How to Slow It Down | GZERO World

Larry Summers' view: What caused US inflation and how to slow it down

Ian Bremmer interviews economist Larry Summers on GZERO World. Summers served as the Treasury Secretary under President Clinton and as the Director of the National Economic Council under Preisdent Obama. He sounded the alarm bell about inflation back in February 2021 when few people were talking about it. Part of the reason prices are rising so much today, Summers says, is because the Biden administration made the political decision to do "too much stimulus," a big mistake in his view. Summers discusses how supply chain problems are also contributed to the highest levels of inflation in the US in 30 years.

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Larry Summers: Rising Inflation Makes Society Feel "Out of Control” | GZERO World

Larry Summers: Rising inflation makes society feel "out of control”

The economic consequences of high inflation are already bad enough.

But for Larry Summers, sometimes the psychological trauma that comes with it can do even more damage to a society.

"A society where inflation is accelerating is a society that feels out of control."

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How Economist Larry Summers Predicted US Inflation | GZERO World

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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Inflation Nation: What’s Driving US Prices Higher? | Economist Larry Summers | GZERO World

Inflation nation: What’s driving US prices higher?

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? 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. Also on this episode of GZERO World with Ian Bremmer: the plight of the lowly shipping container.

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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.

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