Student Loan Debt Relief Makes Inflation Worse: Former Treasury Secretary

Student Loan Debt Relief Makes Inflation Worse: Former Treasury Secretary
U.S. President Joe Biden gestures as he delivers remarks on the Inflation Reduction Act of 2022 at the White House on July 28, 2022. Elizabeth Frantz/Reuters
Bill Pan
Bill Pan
Reporter
|Updated:
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The Biden administration’s highly anticipated move to cancel outstanding student loan debt could make the current inflation crisis worse, former Treasury Secretary Larry Summers warns.

A frequent critic of President Joe Biden’s handling of inflation, Summers renewed his warning on Monday as the federal government is expected to make a decision on student loan debt “within the next week or so.”

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