WASHINGTON—Consumer prices continue to rise at the fastest pace in decades, prompting critics to argue that the Biden administration’s policies are “overheating” the economy. Inflation is also wiping out gains of workers as consumer prices are rising faster than wages, according to President Barack Obama’s top economists. The consumer price index (CPI) rose 0.9 percent last…
Majority Concerned Biden Administration Spending Could Lead to Inflation: Poll
A poll from Monmouth University on Wednesday revealed that the majority of people are concerned that President Joe Biden’s funding priorities will lead to inflation. Participants were asked how concerned they are that the spending plans could lead to a big jump in the price of goods and services. A total of 71 percent said they…
Economists Divided Over Inflation Risks From Stimulus Plan
February 10, 2021
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WASHINGTON—The prospects for another large COVID stimulus package have reignited fears for inflation, causing a deep division among economists. While some forecasters believe that the stimulus plan pushed by Democrats threatens future inflation, the others shrug off these concerns, saying inflation worries are overstated. Democratic economist Larry Summers in an op-ed in the Washington Post…
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