Economics
Summers Says U.S. Risks Recession by Blaming Inflation on Greed
- Former Treasury chief says White House wrong on price surge
- Focus on corporate greed delaying action necessary, he says
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Former Treasury Secretary Lawrence Summers said that the White House is getting it wrong on the causes of high inflation and that attempts to blame it on “corporate greed” only increase the risk that a recession will be needed to tame surging prices.