Summers: Fed should focus on inflation, not social justice

In an op-ed for the Washington Post Democrat Larry Summers says the “Fed’s current policy trajectory is likely to lead to stagflation, with average unemployment and inflation both averaging over 5 percent over the next few years.”

Summers also says he hopes “the Fed will make clear that inflation reduction is its principle objective, and that it will wind down efforts to promote worthy but nonmonetary goals such as social justice and environmental protection.”

NRCC Comment: “Democrats’ inflation crisis is going to get even worse because they are empowering radical environmentalists and Social Justice Warriors instead of lowering costs for American families.” – NRCC Spokesman Mike Berg