Inflation accelerating faster than expected, says Obama economist Lawrence Summers

Published May 14, 2021 2:26pm ET



Former Treasury Secretary Lawrence Summers said Friday that inflation is going up even faster than he predicted, pushing back against the more rosy economic outlook of the Federal Reserve and the Biden White House.

“I was on the worried side about inflation and it’s all moved much faster, much sooner than I had predicted,” Summers wrote on Friday. “That has to make us nervous going forward.”

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