Joseph Stiglitz quoted in the Boston Globe:
Will Biden’s big spending bills equal more inflation? It’s complicated
Inflation by one key measure just hit a three-decade high. Now, after Congress approved a $1.2 trillion infrastructure bill, President Biden and Democrats are pushing to pass legislation to spend an additional $1.75 trillion to expand the social safety net and fight climate change. . . . . .
. . .“We think markets are really agile. It turns out they’re agile in normal circumstances,” said Joseph Stiglitz, an economics professor at Columbia University and former chair of the Council of Economic Advisers under President Clinton. “But this was a bigger event than we normally deal with" . . .