AP
- Biden's economic agenda could make inflation worse, former Treasury Secretary Larry Summers said.
- That's because Biden's policy is based on wrong principals, he said at a recent event.
- "We do not have a problem of a shortfall of jobs … We do have a problem with costs."
President Joe Biden's economic agenda is "increasingly dangerous" and could make inflation worse, according to Larry Summers.
At a recent event hosted by the Peterson Institute for International Economics, the former US Treasury Secretary said he largely agrees with the Inflation Reduction Act and the CHIPS Act, which encourage domestic manufacturing.