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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”

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

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?

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.

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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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