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Economics

Top Economists See Biden’s Spending Plan Adding to Inflation

  • GOP, moderate Democrats have voiced concern about impact
  • Economists also anticipate faster growth, jobs improvement
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Biden Says Infrastructure Bill Gets America Moving Again

The roughly $2 trillion tax and spending bill being championed by President Joe Biden will act to push up inflation next year if passed by Congress.

That’s according to three senior economists -- Mark Zandi at Moody’s Analytics, Douglas Holtz-Eakin of the American Action Forum and Harvard University professor Doug Elmendorf -- who appeared on a virtual panel sponsored by the National Association for Business Economics on Wednesday.