HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
March 29, 2022, Audio: "“There is a chance that macroeconomic stimulus on a scale closer to World War II levels than normal recession levels will set off inflationary pressures of a kind we have not seen in a generation,” wrote Larry Summers in February 2021. A year later, the debate still rages over the first part of that sentence — the extent to which the American Rescue Plan is responsible for rising prices. But the rest of it is no longer in question: We’re currently experiencing the worst inflationary crisis in decades."
HKS Faculty Author - Lawrence Summers