Summers: We'll Have 'Higher Inflation for the Next Year or Two,' Economic Growth Will Slow Down

On Friday's broadcast of ABC's "GMA3," economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers predicted that while ending the war in Ukraine will help the economy, we will have "higher inflation for the next year or two," and the pace of economic growth will slow from its current level.