Larry Summers Warns Liberals’ Antitrust Push Could Worsen Inflation Crisis

Coalition Urges Conservative Senators to Reject S.2992

WASHINGTON – As Americans grapple with soaring inflation rates, Larry Summers – former Obama White House economic advisor and Clinton Administration Treasury Secretary – issued a stern warning that “hipster antitrust” policies could make the economy “more inflationary and less resilient.”

“When Larry Summers warned the world about the looming threat of inflation, the Biden Administration and fellow liberals shrugged their shoulders and looked the other way. One year later our nation is in the throes of an inflation crisis not seen since the 1970s and yet President Biden’s allies are scheming to pass antitrust policies that would throw more gas on the fire and bring more pain to American families,” said Competitiveness Coalition Chair Scott Brown. “The insanity needs to stop now. These so-called antitrust bills are a giveaway to Communist China, and should be stopped in their tracks by Congress, especially by anyone who counts themself as a fiscal conservative.”

Summers’ comments arrive as liberal Senate leaders push the dangerous American Innovation and Choice Online Act, an activist-backed bill that would expand the federal government, hurt US competitiveness and help China’s quest for global dominance. 

Counting 17 small business, consumer, and taxpayer advocate groups, the coalition is focused on preserving American competitiveness and defeating misguided bills such as the American Innovation and Choice Online Act and Open App Markets Act. For more information, please visit Members of the press can contact the coalition at


The Competitiveness Coalition is a first-of-its-kind group educating the public and advocating for policies that put consumers first while fostering innovation and attracting new investment.