The White House Says Its Plans Will Slow Inflation. The Big Question Is: When?
The New York Times
The Biden administration has argued that its infrastructure and broader economic package will slow rapid price increases. But that will take time.
Rocketing inflation has become a headache for U.S. consumers, and President Biden has a go-to prescription. He says a key way to help relieve increasing prices is to pass a $1.85 trillion collection of spending programs and tax cuts that is currently languishing in the Senate.
A wide range of economists agree with the president — but only in part. They generally accept his argument that in the long run, the bill and his infrastructure plan could make businesses and their workers more productive, which would help to ease inflation as more goods and services are produced across the economy.
But many researchers, including a forecasting firm that Mr. Biden often cites to support the economic benefits of his proposals, say the bill is structured in a way that could add to inflation next year, before prices have had time to cool off.
The employment data is forecast to show a strong labor market on the eve of the transition to the administration of President Trump.
The canal’s two biggest ports are operated by a Hong Kong company with global reach. The Trump administration sees a Chinese threat to U.S. security.
The distinctive domed building, turning 50 this year, is known for hosting the Super Bowl, but to locals, it’s also “the city’s living room.”
Black-owned brands got a foot in the door through accelerator programs at big retailers like Target and Amazon. Now they worry the door might be closing.
The trade deficit has long drawn the president’s ire. Now, he’s preparing to take it on again.
American companies intent on making goods in the United States are fretting over the impact of tariffs on their access to parts and raw materials.
A growing number of countries, including American allies, are striking trade deals as the Trump administration erects a higher fence around its global commerce.
The invoking of national security to unravel trade agreements could scramble the international trading system in China’s favor.
Canada, Mexico and China account for more than a third of the products brought into the United States. Tariffs could lead to higher prices for consumers.