The Latest Breaking News from Larry Summers

Former Treasury Secretary Lawrence H.

Current turmoil ‘hallmark of situations where credibility lost’, says Larry Summers

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

It's a sign of fears that the plan could alienate swing voters in November.

"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman

He risks leaving progressive and working-class Democrats unsatisfied.

One of the most conspicuous parts of the tax-and-spending package known as the Inflation Reduction Act is vastly expanded funding for the Internal Revenue Service. The promised flood of cash — an additional $80 billion over 10 years, compared with baseline annual spending of around $15 billion — raises some…

WASHINGTON — President Joe Biden raised the final pillar of his economic agenda with the Senate’s passage of a breakthrough climate and tax package, sealing a legacy that risks being undermined by an inflation surge he’s blamed for sparking.

Senate Majority Leader Chuck Schumer has repeatedly said Democrats are on track to pass the Inflation Reduction Act in the coming days, but a few roadblocks still stand in the way.

Most Americans believe so.

Inflation picked up speed in June, rather than slowing.