Biden has set the inflation time bomb
by Bruce Thompson
| August 17, 2021 08:00 AM
The Debrief with Tim Carney — August 14
Although little noticed by the media, a research report by Wall Street economists predicts a significant burst of inflation fueled by the "epic proportion of monetary and fiscal stimulus." It warns that global economies are "sitting on a time bomb."
The report is a stark warning that President Joe Biden's $3.5 trillion tax and spending plan could return our economy to the double-digit inflation of the 1970s. And surely, also, the economic disruption that followed.
Released by Deutsche Bank Research, the report echoes other warnings from leading financial experts that Washington's massive stimulus and debt was driving higher inflation and threatening economic growth. According to the report, the dramatic shift in macroeconomic policy taking place in Washington is "scary," with inflation being downplayed while massive fiscal and monetary stimulus is being "coordinated in ways the world has never seen before."
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