Prominent economist Larry Summers, who served in both the Obama and Clinton administrations, recently expressed deep concerns about elements of President Joe Biden's economic agenda.

In a virtual address at the Peterson Institute for International Economics on Tuesday, Summers labeled aspects of the administration's plan as "increasingly dangerous," warning that they could potentially lead to a surge in prices, negatively impacting American citizens, according to CNN.

“I am profoundly concerned by the doctrine of manufacturing-centered economic nationalism that is increasingly put forth as a general principle to guide policy,” Summers said, according to the outlet.