The Inflation Miscalculation Complicating Biden’s Agenda
The New York Times
Administration officials blame the Delta variant for a prolonged stretch of consumer spending on goods, rather than services, pushing up prices and creating a conundrum for the Fed.
WASHINGTON — President Biden’s top economists have worried from the beginning of his administration that rising inflation could hamstring the economy’s recovery from recession, along with his presidency. Last spring, Mr. Biden’s advisers made a forecasting error that helped turn their fears into reality.
Administration officials overestimated how quickly Americans would start spending money in restaurants and theme parks, and they underestimated how many people wanted to order new cars and couches.
Mr. Biden’s advisers, along with economists and some scientists, believed that widespread availability of coronavirus vaccinations would speed the return to prepandemic life, one in which people dined out and filled hotel rooms for conferences, weddings and other in-person events.
Bored troops are standing watch, shelters have emptied from McAllen, Texas, to Tucson, Ariz., and border patrols speed through miles of frontier, finding no one in sight.
Spending that the White House does not like is being labeled fraudulent. At the same time, President Trump is rolling back anticorruption efforts and ethical standards for himself and allies like Elon Musk.
The remains of Edwin Echevarria, 65, were found floating in the East River on Feb. 5. His roommate, Christian Millet, 23, has been charged with second degree murder.
Even as they praise the president’s unilateral actions to slash federal spending, G.O.P. lawmakers have quietly moved to seek carve outs or exemptions for their own constituents.
The mayor discussed options to run for re-election in the Republican contest as recently as Monday. Asked for comment, he said he was running as a Democrat.
A lawsuit appears to be the first challenge to the constitutionality of an executive order barring trans athletes from girls’ and women’s sports teams.
The comptroller’s office, which first noticed the missing money, said that the federal agency had unilaterally taken the funds from the city’s accounts.
The executive order would ban citizenship for children born in the United States to foreign workers on visas that often lead to permanent residency.
The Trump administration’s order to drop the charges against Mayor Eric Adams was the most pronounced example of the president using his power to determine the city’s future.
President Trump had already pardoned his adviser in a similar federal case, which accused him of skimming money from donations to build a southern border barrier.
The Foreign Corrupt Practices Act makes it illegal for companies that operate in the United States to pay foreign government officials to secure or keep business deals.
Representative Dan Goldman’s support may help Mr. Myrie, a state senator from Brooklyn, to emerge from a pack of progressive Democrats.
The new tone of the department, current and former officials say, appears to promise a campaign of intimidation against career employees viewed as insufficiently loyal.