Federal Reserve Chairman Jerome Powell told lawmakers today that the recent $1.9 trillion dollar stimulus bill won’t cause a substantial increase in inflation. (WSJ)
“We might see some upward pressure on prices. Our best view is that the effect on inflation will be neither particularly large nor persistent,”
If 1.9 trillion isn’t enough to cause substantial inflation, I wonder what he thinks about $3 trillion? (WaPo)
White House officials are preparing to present President Biden with a roughly $3 trillion infrastructure and jobs package that includes high-profile domestic policy priorities such as free community college and universal prekindergarten, according to three people familiar with internal discussions.