{"id":214048,"date":"2021-03-29T22:39:18","date_gmt":"2021-03-29T19:39:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/obamas-economic-adviser-blasts-bidens-stimulus-plan-says-it-could-trigger-high-inflation\/"},"modified":"2021-03-29T22:39:18","modified_gmt":"2021-03-29T19:39:18","slug":"obamas-economic-adviser-blasts-bidens-stimulus-plan-says-it-could-trigger-high-inflation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/obamas-economic-adviser-blasts-bidens-stimulus-plan-says-it-could-trigger-high-inflation\/","title":{"rendered":"#Obama\u2019s economic adviser blasts Biden\u2019s stimulus plan, says it could trigger high inflation"},"content":{"rendered":"

“#Obama\u2019s economic adviser blasts Biden\u2019s stimulus plan, says it could trigger high inflation<\/strong>”
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Former Obama\u00a0economic\u00a0adviser Larry Summers continues to blast the\u00a0Biden\u00a0administration\u2019s stimulus plan and warns it will result in a major inflation crisis.<\/p>\n

\u201cWe\u2019re taking substantial risks,\u201d Summers told The Washington Post. \u201cThis might not have struck as much a nerve if it didn\u2019t reflect concerns that were widely felt.\u201d<\/p>\n

\u201cI know the bathtub has been too empty,\u201d he continued. \u201cBut one has to think about what the capacity of the bathtub is and how much water we\u2019re trying to flow into it.\u201d<\/p>\n

Summers,\u00a0who served as Treasury secretary during the Clinton administration, advised Biden in the summer of 2020, according to\u00a0The Washington Post<\/a>. He called Democrats\u2019 $1.9 trillion relief package \u201cthe least responsible macroeconomic policy we\u2019ve had in the last 40 years\u201d during an\u00a0interview<\/a>\u00a0with \u201cWall Street Week\u201d earlier in March.<\/p>\n

Summers has been\u00a0critical of economic responses to the coronavirus pandemic, including stimulus checks, since last year. Summers argued for narrowly targeted relief in a\u00a0Bloomberg op-ed<\/a>\u00a0in December.<\/p>\n

\u201cThe question in assessing universal tax rebates is, what about the vast majority of families who are still working, and whose incomes have not declined or whose pension or Social<\/a> Security benefits have not been affected by Covid-19? For this group, the pandemic has reduced the ability to spend more than the ability to earn,\u201d he wrote.<\/p>\n

Meanwhile, President Biden is\u00a0expected to push<\/a>\u00a0both an infrastructure proposal and a coronavirus recovery proposal in the coming weeks.<\/p>\n

Biden\u00a0will have \u201cmore to say\u201d in April about his\u00a0coronavirus\u00a0recovery plan focused on issues like health care and child care,\u00a0White House press secretary Jen Psaki told \u201cFox News<\/a> Sunday.\u201d<\/p>\n

\u201cWhen the president advocated\u00a0for the American Rescue Plan, he talked about this being two stages: rescue then recovery. What the American people will hear from him this week, is part of his plan, the first step of his plan toward recovery which will include an investment in infrastructure,\u201d\u00a0Psaki said.<\/p>\n

Biden is expected to detail an infrastructure package on Wednesday during a\u00a0speech in Pittsburgh<\/a>.<\/p>\n

Senior Democratic officials are proposing\u00a0as much as\u00a0$3 trillion<\/a>\u00a0in new spending on a\u00a0jobs and infrastructure bill that would become the foundation of Biden\u2019s \u201cBuild Back Better\u201d program.\u00a0Politico<\/a>\u00a0reported that Democrats are eager to fit what they can in the package, including new measures on drug pricing and climate policy.\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Obama\u2019s economic adviser blasts Biden\u2019s stimulus plan, says it could trigger high inflation” Former Obama\u00a0economic\u00a0adviser Larry Summers continues to blast the\u00a0Biden\u00a0administration\u2019s stimulus plan and warns it will result in a major inflation crisis. \u201cWe\u2019re taking substantial risks,\u201d Summers told The Washington Post. \u201cThis might not have struck as much a nerve if it didn\u2019t reflect…<\/p>\n","protected":false},"author":1,"featured_media":214049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/larry-summers-inflation-biden-stimulus-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[18203,99931,71290,5069,991,88069],"class_list":["post-214048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-barack-obama","tag-3-29-21","tag-economics","tag-economy","tag-joe-biden","tag-larry-summers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/214048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=214048"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/214048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/214049"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=214048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=214048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=214048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}