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Schumer calls economists 'wrong' who are cautioning Manchin's spending bill will increase inflation
Schumer is firing back at hundreds of economic experts that say the Manchin tax and spending bill will increase inflation
By Kelly Laco FOXBusiness
Senate Majority Leader Chuck Schumer called 230 economists who are warning that the Inflation Reduction Act is expected to contribute to skyrocketing inflation "wrong" during a press conference Friday.
When asked about the letter sent by 230 economic experts to House and Senate leadership, first reported by Fox News Digital Thursday, Schumer argued that the experts are "wrong."
"They’re wrong..I don’t know who that list was…it’s as plain as the nose on your face," Schumer, D-N.Y., told reporters.
The economists wrote in the letter that the U.S. economy is at a "dangerous crossroads" and the "inaptly named ‘Inflation Reduction Act of 2022’ would do nothing of the sort and instead would perpetuate the same fiscal policy errors that have helped precipitate the current troubling economic climate."
A few of the notable signers include Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, former Director of the Office of Management and Budget Jim Miller and Robert Heller, former president of the Federal Reserve Board 1986-1989.
In addition, professors from the University of Chicago, Princeton University, Duke University, the University of Virginia, Columbia University and the University of Notre Dame, among others, were listed on the letter dated Aug. 3.
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https://www.foxbusiness.com/politics/schumer-calls-economists-wrong-who-cautioning-manchins-spending-bill-increase-inflation
