The United States is conducting the most irresponsible economic policy in the last 40 years; this opinion was expressed by the former Minister of Finance of the country Lawrence Summers in Wall Street Week, published on Bloomberg.
Summers criticized the measures of the current authorities to stimulate the economy. He warned that the steps taken would lead to an increase in the pressure of excess demand on the price and the simultaneous aggressive easing of fiscal policy.
“This is the most irresponsible fiscal policy that we have implemented in the last 40 years,” the former official said.
According to him, the current situation is the result of “the intransigence of the left-wing Democrats and the completely irresponsible behavior of the entire Republican Party.” Summers also suggested that there could be a temporary spike in commodity prices in the US.
“What was lit is now being ignited,” the ex-minister said.