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Former Treasury Secretary Warns Inflation Could Resurge
Former Treasury Secretary Larry Summers expressed more concern over slow wage growth than inflation in an appearance prior to the Labor Department’s July job report.
Former Treasury Secretary and Harvard Professor Larry Summers makes remarks during a discussion on low-income developing countries at the annual IMF and World Bank Spring Meetings in Washington on April 13, 2016. Mike Theiler/AFP via Getty Images
Former Treasury Secretary Lawrence Summers warned that inflation could surge again as wages continue to rise.
While he believes that a soft landing for the American economy appears more likely than it did earlier, his latest concern is that inflation will accelerate again.
