[Daily Caller] A former Obama economic adviser has become a prominent Democratic critic of the Biden administration’s handling of the inflation surge.Former Treasury Secretary Larry Summers, who served as head of the National Economic Council during the Obama administration, slammed the Federal Reserve and Biden administration’s response to the surge in prices.
"After years of advocating more expansionary fiscal and monetary policy, I altered my view this past winter, and I believe the Biden administration and the Federal Reserve need to further adjust their thinking on Inflation today," Summers wrote in an op-ed in The Washington Post Monday.
Summers criticized Fed Chair Jerome Powell’s recent remarks when he called inflation transitory at a speech in Jackson Hole in August.