US President Joe Biden signs the American Rescue Plan, a package of economic relief measures to respond to the impact of the coronavirus disease pandemic, inside the Oval Office at the White House in Washington March 11, 2021.
“We see potentially significant positive spillovers in terms of global growth,” he said. “Most countries should benefit from stronger US demand... so this will help global growth and recovery.” He acknowledged that inflation could jump this year compared to the depressed rates during the pandemic restrictions in 2020, but said those price spikes are likely to be “transitory.”
But the White House has downplayed those risks, and Deese said “we still have enormous slack in the economy.”
Source: Financial Digest (financialdigest.net)