Former Treasury Secretary Larry Summers has found a new target for his war on inflation: President Biden's 'hipster' antitrust policies.
Former U.S. Treasury Secretary Larry Summers has found a new target for his war on inflation: President Biden's "hipster" antitrust policies.National gas prices reached another record high Monday and inflation hit 8.3% last month. Top administration officials are super-sensitive to criticism from Summers, a former Harvard president who served in senior economic roles in the last two Democratic administrations.
His "hipster" critique was in response to a Wednesday speech by Jonathan Kanter, head of the Justice Department's antitrust division, who said “corporate power has grown to levels that leave our fellow citizens concerned and confused." Summers expressed concern that such judgments could lead to a dangerous populism.
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