By Feb 21, 2021 12:33 AM EST The $1.9 trillion coronavirus relief package from President Joe Biden is speeding toward passage at least before mid-March. But as Congress prepares the huge stimulus package, a few leading left-wing economists had raised an alarm about the possibility of inflation, conjuring up images of the 1970s, when the central bank failed to contain rising rates, wiping out wage increases. Economists fear Biden might cause 'inflationary pressures' (Photo : Rob Kim/Getty Images) NEW YORK, NY - JANUARY 30: Former Treasury Secretary Larry Summers visits FOX Business Network at FOX Studios on January 30, 2015 in New York City. In the Democratic Party, the most notable voice warning of inflation danger came from inside. President Joe Biden might cause "inflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability." Bill Clinton's former treasury secretary and economic adviser to Barack Obama, Lawrence Summers, wrote in an op-ed for The Washington Post.