Friday, 12 November 2021 15:14

Biden Claims Tax Hikes and Spending Will Slow Inflation

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Another post pandemic super bill is flowing through the economy this time with a Biden name tag, and the president claims the $1.2 trillion dollar stimulus will lower inflation. The idea is the new bill will lubricate the American supply chains and have goods flowing easier and thus lowering costs. It's difficult to say if this bill will un-kink the supply chains or just boost demand and prices even more. Americans are already worried about $4.50 gass and surging food prices. Inflation hit a 31 year record this month, and inflation expectations aren’t slowing according to the Michigan survey of consumer expectations. The median projection is 4.6% over the next year, up nearly 2% from a year ago. Additionally the Biden administration is planning on pushing the $1.75 trillion dollar Build Back Better in the upcoming weeks.

FINSUM: A stimulus bill would have to be hyper targeted at supply chains to have the effect Biden is aiming at, and in combination with the BBB these bills will only further the U.S.’s inflation problem.

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