Summers: Biden Should ‘Encourage Energy Production’ to Decrease Gas Prices

On Wednesday’s broadcast of CNN’s “Cuomo Primetime,” economist Lawrence Summers argued the Biden administration should “get a set of things to encourage energy production so that gasoline prices could come down” to help deal with inflation problems.

Summers said he thinks the Federal Reserve should take stronger steps and that he supports the administration’s actions to reduce congestion at the ports, “but I think it would be much more important if they removed some of the tariffs that are holding up prices, to get a set of things to encourage energy production so that gasoline prices could come down, if they were very conscious of costs as they regulated or as they had procurement rules about buy America and the like.”

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