Top Obama Admin Economist Warns That United States Still Has A ‘Serious Inflation Problem’
On Tuesday, top Democrat economist Larry Summers, who served in the Clinton and Obama administrations, responded to the news that the inflation crisis worsened in August, warning that the United States still has a “serious inflation problem.” According to the newly released Consumer Price Index (CPI) report from the Bureau of Labor Statistics, inflation worsened last month as prices rose 0.1% on a monthly basis and 8.3% over the last year. Core inflation, which excludes volatile gas and energy prices, also rose 0.6% in August and 6.3% over the last year. “Today’s CPI report confirms that the US has a serious inflation