John Carney8 Feb 20212,024
One
of the world's leading liberal economists dealt Joe Biden a blow in
recent days, warning that the president's $1.9 trillion covid relief
legislation could ignite an inflationary conflagration.
Olivier
Blanchard, the former chief economist of the International Monetary Fund
and perhaps the most cited economist in the world, spelled out his case
against the Biden bill in a series of tweets on Saturday.
Blanchard's
argument is that the size of the stimulus injected into the economy
would be too large, especially when added to the measures taken last
year. The additional spending power created by the additional $1.9
trillion budget deficit would drive up prices and force the Federal
Reserve to hike interest rates..........To Read More....
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