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Tag: Larry Summers

PCE Inflation at Highest Level in 4 Decades
The Federal Reserve’s preferred gauge of inflation, the Personal Consumption Expenditures (PCE) index, rose to its highest level in almost four decades in November. Consumer spending accounts for around 70 percent of economic activity in...
Treasury Secretary Insists Inflation Under Control Following Twitter CEO’s ‘Hyperinflation’ Tweet
On Oct. 23, Twitter CEO Jack Dorsey said in a tweet that hyperinflation is “happening” and that it will change “everything.” Dorsey’s tweet highlighted the inflationary pressure facing America and his tweet quickly became a...