The Latest Breaking News from Larry Summers

One of the most conspicuous parts of the tax-and-spending package known as the Inflation Reduction Act is vastly expanded funding for the Internal Revenue Service. The promised flood of cash — an additional $80 billion over 10 years, compared with baseline annual spending of around $15 billion — raises some…

WASHINGTON — President Joe Biden raised the final pillar of his economic agenda with the Senate’s passage of a breakthrough climate and tax package, sealing a legacy that risks being undermined by an inflation surge he’s blamed for sparking.

Senate Majority Leader Chuck Schumer has repeatedly said Democrats are on track to pass the Inflation Reduction Act in the coming days, but a few roadblocks still stand in the way.

Most Americans believe so.

Inflation picked up speed in June, rather than slowing.

Sens. Bernie Sanders, I-V.t., and Lindsey Graham, R-S.C. sparred over rising gas prices during a Monday debate.

Larry Summers took issue with current Treasury Secretary Janet Yellen’s assessment of recession risk

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

Attacking big firms just for being big could drive up prices.

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet by President Joe Biden about corporate taxes as “disinformation” and “misdirection.”