We break down whether President Biden’s plan to ease financial pressure on American households could make the problem worse. We’ll also look at a better-than-expected economic growth report for the second quarter and a looming ban on buying gas-powered cars. But first, Biden’s approval rating just hit the best level in more than a year. Welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line. For The Hill, we’re Sylvan Lane, Aris Folley and Karl Evers-Hillstrom. Someone forward you this newsletter? Subscribe here. How will Biden’s student loan plan affect inflation? President Biden announced on Wednesday an executive or
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