From WSJopinion: The proper size and role of government requires careful debate and involves trade-offs, writes mickeylevy. Policy makers need to focus on those trade-offs.
Journal Editorial Report: Paul Gigot interviews former Trump economics chief Kevin Hassett. Images: Getty Images Composite: Mark KellyThe core rate of inflation has risen to 6.9% over the past year, imposing financial stresses on most Americans. The Federal Reserve now acknowledges that high inflation has persisted too long and signals that it will raise interest rates, though probably not as much as needed. For the first time since 1980, inflation has become a political issue.
In public statements, President Biden has attributed inflation to supply-chain bottlenecks and temporary price spikes on cars and price-gouging by businesses. Supply bottlenecks have clearly pushed up prices, but robust growth in aggregate demand driven by excessive monetary and fiscal stimulus has been a primary source of inflation. The supply constraints will eventually dissipate. Policy makers can’t wait to tone down the bulging pipeline of monetary and fiscal stimulus.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
12 Pillars of State And Local Broadband Policy SuccessIn the 15 years since the state's telecom deregulation, Indiana has emerged as a leader in new broadband network builds.
Read more »
Asian stocks fall on concerns about Omicron variant, Fed policyInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Nikkei falls 2% as Asian markets retreat on concern about omicron, tighter Fed policyAsian stock markets followed Wall Street lower on Monday amid concern about the coronavirus's latest variant and tighter Federal Reserve policy.
Read more »
It’s Official: Inflation Is Not TransitoryWhat the U.S. needs is 7% inflation because that will squish the debt to GDP ratio back into line over three to four years.
Read more »
It’s Official: Inflation Is Not TransitoryWhat the U.S. needs is 7% inflation because that will squish the debt to GDP ratio back into line over three to four years.
Read more »