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by arunabha
251 days ago
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> The Biden administration decided that the best way to fight inflation was to invent a giant pile og money and hand it out Can you provide some references for your claim? IIRC, under Biden, inflation was stoked by the Covid stimulus(arguably necessary to avoid rapid deflation due to Covid, but probably kept for too long) and the Fed moved pretty decisively in the second half of the Biden presidency to raise interest rates rapidly to combat inflation. FWIW, the inflation issue seemed to be under control and heading in the right direction before the administration changed. |
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It authorised $891 billion in total spending – including $783 billion on energy and climate change, and three years of Affordable Care Act subsidies
in order to...... Reduce Inflation.
https://en.wikipedia.org/wiki/Inflation_Reduction_Act