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Tipsheet

Obama Economic Advisor: Buckle Up, Inflation Will Get Out of Control Thanks to a Woke Fed

AP Photo/Mark Lennihan

Former Obama Economic Advisor Larry Summers is warning that thanks to a "woke" federal reserve, inflation is about to be driven into out-of-control territory. 

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The White House is attempting to downplay rapidly rising inflation. Chief of Staff Ron Klain is referring to the issue as a "high class problem," despite prices on everyday household products and groceries significantly increasing in recent months. 

Press Secretary Jen Psaki said during Wednesday's briefing that Americans aren't really paying attention to details or comparing costs. 

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Meanwhile, over on Capitol Hill, leading woke Senator Bernie Sanders, who is the chairman of the Senate Budget Committee, is standing firm with House socialists to pass President Biden's $3.5 trillion spending plan.

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