Former US Treasury Secretary warns Trump plans would ‘set off an inflationary spiral’

https://www.semafor.com/article/04/17/2024/former-us-treasury-secretary-larry-summers-warns-trump-plans-would-set-off-an-inflationary-spiral

by likeaforest

2 comments

  1. If Trump actually wins the country has a lot bigger issues than an inflationary spiral.

  2. >He also suggested that Trump would likely undermine the Federal Reserve’s policy independence, leading “to higher inflation expectations, which would prove self-fulfilling,” and blow out the budget deficit.

    Under Trump, we ran a deficit of $600B to $900B, until COVID.

    It’s now four years after COVID and we have a ~$2.nT deficit under Biden and we’re acquiring $1T in new debt every 100 days.

    But Trump is the danger?

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