Top Democrat Economist Warns Of Biden Inflation: ‘Hard To Put Out Fire Without Doing A Lot Of Damage’

A top Democrat economist is warning that the size of President Biden’s economic stimulus is causing the economy to “overheat” and that it may melt down if Democrats do not start pumping the brakes quickly.

Larry Summers, who held top economic positions in the Clinton and Obama administrations, told PBS’s “Firing Line with Margaret Hoover” on Saturday that the Federal Reserve was, “in the face of a housing market on fire,” “intervening in the markets,” which was like “adding gasoline” to the fire.