Former Treasury Secretary Larry Summers, a Democrat, is warning that the Federal Reserve’s easy-money strategy could backfire as inflation concerns grow.

Summers, who served as treasury secretary under Clinton and director of the National Economic Council under Obama, has emerged as one of the top critics of the recent fiscal and monetary policies of the Biden administration and the Fed. He launched a Tuesday broadside against the Fed’s predictions that it will keep interest rates near-zero during a conference hosted by the Federal Reserve Bank of Atlanta.

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