The ‘Goldilocks’ stimulus myth ...Qatar

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US President Joe Biden, facing the great challenge of stimulating his country’s economy for the post-pandemic era, and haunted by then-president Barack Obama’s tepid stimulus in the face of the Great Recession a decade ago, has decided to err on the side of overshooting. He wants to “go big” with a $1.9 trillion spending plan. Prominent centrists like Larry Summers and Olivier Blanchard warn that Biden’s decision may prove his undoing. Their argument is that too much stimulus will trigger an inflationary surge, resulting in an interest-rate spike that will force his administration to slam on the austerity brakes just before the midterm elections in 2022, costing his Democratic Party control

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Last updated : 04 March 2021 clock 12:04 AM

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The ‘Goldilocks’ stimulus myth ...Qatar

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