‘Woke’ Fed risks losing control of inflation, says former Treasury Secretary Larry Summers
10/14/21
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from FoxBusiness,
10/14/21:
Summers warns of 1970s-style inflation.
Former Treasury Secretary Larry Summers on Wednesday excoriated Federal Reserve policymakers for paying too much attention to social issues rather than a pandemic-induced inflation surge that’s triggered wild increases in many consumer prices.
“We have a generation of central bankers who are defining themselves by their ‘wokeness,’” Summers said Wednesday while speaking to a virtual conference organized by the Institute of International Finance. “They’re defining themselves by how socially concerned they are.”
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