In an interview published in Friday’s issue of Bloomberg Wall Street Week, economist, Harvard professor, director of President Barack Obama’s National Economic Council, and President Bill Clinton’s Secretary of the Treasury Larry Summers, said that economics is the President’s business. I said. What Trump says about the disinfectants in your veins is for medical science. This is dangerous nonsense.” While legislation may not have a significant impact on inflationary pressures, it can “cause and provoke all kinds of deficits” and “in the long run, suppress the supply response, which is the best way to deal with inflation”.
Summers said: “Pump gouging, price gouging more generally, is what President Trump has said in medical science about disinfectants in your veins. It’s dangerous bullshit. There’s no tangible hope that the fundraising law will have any significant impact on inflationary pressures. But it can cause and fix all kinds of shortcomings. This can destroy the intricate web of flows between oil and petroleum products. This can slow the supply response, which is ultimately the best way to beat inflation. This gibberish is annoying confusion. That’s what usually happens when there’s inflation. “Only when we get past that and understand that the real determinants of inflation are related to the overall level of demand spurred by policy, will we succeed,” he said.
Source: Breitbart
