President Trump is facing a moment of truth.
Trump is hoping for the best.
And one shocking chart has Donald Trump bracing for the worst.
As Conservative Reboot reports:
Former Harvard President and Chief Obama economic advisor Larry Summers is dragging out his dreaded inflation chart.
Summers predicted in 2021 that Joe Biden’;s socialist spending spree would trigger an inflation crisis.
“I think policy is rather overdoing it,” Summers said at the time. “The sense of serenity and complacency being projected by the economic policymakers, that this is all something that can easily be managed, is misplaced.”
Biden and the Democrats ignored Summer and rammed through trillions of dollars in socialist welfare spending that ignited the worst inflation since Jimmy Carter’s time in office.
Semafor’s Ben Smith reported that he got a hold of Summers’ chart, which shows inflation currently tracking for a 1979-style spike.
“I did get a hold of an updated version the economist has been circulating of his 2023 chart, however, with a dotted line representing what he sees as the market-implied inflation forecast. It tracks the 1979 inflation spike,” Smith wrote.
Semafor visual report regarding historical correspondence. — Image Source (@Semafor) April 7, 2026
Thanks to the debt Joe Biden ran up before President Trump took office, and Federal Reserve Chair Jerome Powell artificially lowering rates in 2024 in hopes of rigging the election for Kamala Harris, interest rates are too low, which means inflation is set to spike again.
“Summers, I’m told, has shared with associates his view that the American fiscal and economic situations would be worryingly fragile, and on the brink of a crisis, even without a war. And he believes many analysts are misreading the situation. For instance, the Fed is treating the neutral interest rate — the rate that balances full employment and manageable inflation — as 3%; the Trump appointee Stephen Miran has said it’s closer to 1%. Summers thinks it’s 4.5%,” Smith added.
President Trump wanted to fire Powell for months on the basis that Powell mismanaged interest rates for political reasons to help Democrats and hurt him.
Larry Summers chart and interest rates projections provide evidence of Powell’s incompetence.
But Trump can’t replace Powell as Federal Reserve Chairman until May.
Until then, Powell looks to be driving the American economy over a cliff that could doom Republicans in the midterm election and hand power back to Democrats.
And that is what President Trump and many Republicans feared Powell planned from the moment Trump took office.
