An official from the former Obama administration is speaking out against Joe Biden.
“Larry Summers, a former economic advisor to former President Barack Obama, warned President Joe Biden on Monday that inflation is a looming threat to the United States economy,” Breitbart News reports.
“Now, the primary risk to the U.S. economy is overheating — and inflation,” Summers wrote in an op-ed. “Already, consumer prices have risen almost as much as the Fed predicted for the whole year.”
Summers, a Democrat, is worried about the impact a poor economy could have on Democratic candidates in upcoming elections.
“In general, increases in inflation disproportionately hurt the poor and are associated with reductions in trust in government,” Summers wrote.
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