Top Obama Adviser Raises Alarm on Biden Inflation

On Monday, Larry Summers, a former top economic adviser to President Barack Obama, pushed back on remarks that Treasury Secretary Janet Yellen made on Sunday where she dismissed Summers’ concerns over inflation.

Yellen, appearing on CNN’s “State of the Union” with host Jake Tapper, was asked to respond to these recent remarks from Summers:

Now we see inflation becoming more widespread in a wider range of products, spreading to the housing and labor markets. I have been alarmed for a long time, and I’m more alarmed now. … We’re in more danger than we have been during my career of losing control of inflation in the U.S.

When Tapper asked Yellen if she thought that Summers was wrong, Yellen responded, “I think he’s wrong, I don’t think we’re about to lose control of inflation.”

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