Trump’s tariffs could tip us into recession. Attacks on the Fed and universities are escalating. Larry Summers explains what’s at stake.

Former Treasury Secretary Larry Summers joins The People’s Cabinet with a stark warning: Trump’s China tariffs are a “self-inflicted supply shock” that could plunge the U.S. economy into recession.

In this wide-ranging conversation, Summers breaks down:

• Why Trump’s tariffs and China trade war could destabilize the U.S. economy

• The growing threat to Fed independence and politicization of the Federal Reserve

• What the bond market, stock market, and Jerome Powell are signaling about market volatility, a potential Fed rate cut, and US inflation

• His take on Elon Musk and the Department of Government Efficiency (DOGE)'s takeover of the Treasury Department and its payment systems

• How far loyalty to Trump goes—from Treasury Secretary Scott Bessent to AI and Crypto Czar David Sacks

• What’s really behind the Trump administration’s attacks on Harvard, DEI, and rising antisemitism

• Why rising antisemitism on campus is about more than just universities—and what it means for democracy in America

• How economic policy is being weaponized—and what it means for the future of leadership and legitimacy in the U.S.

If you care about the economy, the Fed, or the future of democracy—this is a must-listen.

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