Two percent inflation, for those who don't know, has been the stated goal of the Fed. Will 3% or even higher become the new normal? I hope not. The idea of price stability is something that's immensely important to helping the economy function. There's a huge corporate profit aspect to it. But our method for controlling it seems really much more focused on wages and employment.
We turn to economist and former Treasury Secretary, Lawrence Summers, to help us make sense of inflation, Silicon Valley Bank and what Biden should do next. Also on the agenda: why Summers believes in a politics and economics of opportunity — “not of envy.” Plus, why he thinks America needs more people like Jeff Bezos and Bill Gates.
Questions? Comments? Email us at on@voxmedia.com or find us on Twitter @karaswisher and @nayeema
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