Skip to content
Search
Human content, AI powered search.

Latest Stories

us consumers

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

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 President 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.

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

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."

How did we get to today's supply chain mess?
GZERO World Clips

How did we get to today's supply chain mess?

The supply chain mess is hitting all of us. Inflation is now the highest it's been in over 30 years. The costs of food, gas and housing are going through the roof. What's more, almost everything made outside of America is now in short supply — like semiconductors for our cars. Why is this happening?

The shipping container shortage that’s wreaking havoc on the global supply chain
GZERO World Clips

The shipping container shortage that’s wreaking havoc on the global supply chain

Spare a thought for the poor shipping container, responsible for most of the world's trade. It's had a rough year that started with the gargantuan Ever Given getting stuck in the Suez Canal. Now the Suez traffic jam has gone global.

How economist Larry Summers predicted US inflation
GZERO World Clips

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." So why didn't anyone listen to him? Summers says that "cognitive biases" led many to ignore the inflation warning signs because they thought struggling families needed help, or believed that inflation was simply gone for good. 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.

Inflation nation: What’s driving US prices higher?
GZERO World with Ian Bremmer

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.