Summers Says Biden's Debt Relief Plan Is Inflationary
Larry Summers, President Emeritus of Harvard University and former Treasury Secretary, argued against President Joe Biden's plan for student loan relief saying it is spending that "raises demand and increases inflation." Biden's plan would forgive up to $10,000 in student debt for all individuals earning up to $125,000 and up to $20,000 for borrowers who received Pell Grants, a benefit for low-income students, while in college. Summers speaks to David Westin on "Wall Street Week."
