Key miscalculations that impacted inflation, and how Biden's spending bill could affect it

Americans are increasingly feeling the sting of inflation. Up more than six percent compared to a year ago, inflation is taking a bite out of their paychecks — particularly for middle and lower-income Americans. Larry Summers was treasury secretary for President Clinton and director of the National Economic Council for President Obama. He joins Judy Woodruff with more on rising costs.

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