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The Latest Breaking News from Larry Summers

Democrats in battleground races criticize Biden student loan plan

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

Axios

Biden's Student Debt Relief Plan Will Worsen Inflation

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

Reason

Biden faces new political risks in student loan plan

He risks leaving progressive and working-class Democrats unsatisfied.

Axios

From analysis to the latest developments in health,
read the most diverse news in one place.

Clive Crook: Want a better IRS? Simplify the tax code

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…

Tribune News Service

Biden gets big economic win as inflation threatens legacy

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.

Tribune News Service

Senate will take up Democrats' tax, climate and health bill on Saturday, Schumer says

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.

WEKU

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

Reason

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Inflation Hits 9.1 Percent, Highest Level in 41 Years

Inflation picked up speed in June, rather than slowing.

Reason

Sanders, Graham square off on climate, gas prices in debate - Roll Call

Sens. Bernie Sanders, I-V.t., and Lindsey Graham, R-S.C. sparred over rising gas prices during a Monday debate.

Roll Call

Former Treasury secretary warns recession is ‘more likely than not’ in next two years

Larry Summers took issue with current Treasury Secretary Janet Yellen’s assessment of recession risk

The Independent UK

The job market stays red-hot with the unemployment rate near a pre-pandemic low

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

WEKU

Biden Says Fighting Inflation Is His Top Economic Priority. His Antitrust Policy Would Make Inflation Worse.

Attacking big firms just for being big could drive up prices.

Reason

Larry Summers' new inflation target: Biden's "hipster" antitrust policies

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

Axios

A Bezos-Biden squabble: Can corporate taxes tame inflation?

Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet by President Joe Biden about corporate taxes as “disinformation” and “misdirection.”

The Independent UK

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Reason

COVID Stimulus Checks Worsened Inflation

Four economists at the Federal Reserve say America's high rate of inflation relative to the rest of the world is the result of surging disposable income during the pandemic.

The Independent UK

Analysis: Biden finds inflation overshadows strong economy

President Joe Biden is paying a steep price for high inflation

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