Summers: 'I'm More Worried' about Inflation Than I Was Last Night, Jobs Report Shows 'We're Overheating More'

Summers: ‘I’m More Worried’ about Inflation Than I Was Last Night, Jobs Report Shows ‘We’re Overheating More’


On Friday’s broadcast of CNN’s “Situation Room,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that while it’s a good thing that the jobs report shows people getting jobs and wages increasing, “nothing” suggests “that we’re getting inflation under control, rather the opposite.” And that while wages increased in dollar terms, purchasing power is going down because prices are going up faster, and “you’re getting more and more of a cycle” that will make avoiding a recession and bringing down inflation harder.

Summers stated, “Look, it’s always welcome news when people are getting jobs. It’s welcome news when wages are going up. But I have to say, I don’t think

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