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Summers Says U.S. Inflation Rising Faster Than Even He Predicted

  • Climbing consumer prices should ‘make us nervous,’ he says
  • Former Treasury chief says Fed cannot count on benign scenario
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Larry Summers says rising inflation is making him nervous. Source: Bloomberg)

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Former U.S. Treasury Secretary Lawrence Summers said inflation is accelerating even faster than he forecast, posing a challenge to the benign outlooks of the Federal Reserve and the White House.