Clinton, Obama Economist Says U.S. ‘Has a Serious Inflation Problem’

Two top economists from Democratic presidential administrations are raising the alarm about inflation this week even as the Biden administration touts its progress on the issue.

Lawrence Summers, who served as Secretary of the Treasury for President Bill Clinton and Director of National Economic Council for President Obama, pointed to the latest consumer price inflation data, saying the U.S. “has a serious inflation problem.”

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