Economics

Obama, Biden Economists in Conflict on Inflation Jump, Spending

  • Former CEA chief Furman says Biden rescue plan was too big
  • Current CEA member Bernstein defends $1.9 trillion plan
Jared Bernstein says the CPI report is reflective of a reopening economy.Source: Bloomberg)
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Two top Democratic economists offered dueling assessments on Wednesday of the implications of the biggest jump in consumer prices in more than a decade, showcasing an escalating debate on the risk of the economy overheating.