In making the case for a mammoth $1.9tn economic relief package, President Joe Biden and his acolytes had maintained that economists across the board agreed that now is the time to go big in the fight against the pandemic. Well, so much for that. A number of prominent economists and former policymakers – from Democrat Lawrence Summers to Republican Douglas Holtz-Eakin – have raised questions in the past week about the size of the package. So too have some economy watchers in the financial markets. While they don’t disagree that the US needs additional help, they’ve highlighted the potential costs of doing a whole lot more: Economically, there’s the risk of much faster inflation and a stock
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