Top Economists Including Barack Obama’s Treasury Secretary Discover the Real Inflation Number Under Biden Reached 18% and Is Still Hovering at a 40-Year High
A recent research paper by four noted economists, including Larry Summers, the former Treasury Secretary under Barack Obama and former Harvard President, discovered that the real inflation rate during the Biden years, using pre-1983 calculations reached 18% in 2022.
The number is the highest inflation rate the country has seen in over 50 years.
This research project was published by these four authors at the nonpartisan National Bureau of Economic Research in late February and is just now making waves.
Marijn A. Bolhuis is an economist in the Macro Policy division of the International Monetary Fund’s Strategy, Policy, and Review (SPR) Department.
Judd Cramer is a Harvard Economist.
Karl Oskar Schulz a Harvard undergrad whose analysis found that the higher cost of borrowing is linked to persistent consumer gloom.
