Biden’s Policies To Blame For Inflation, Potential Banking Crisis, Economist Says
View Source | March 14, 2023 3:11 pm
- The consumer price index, a key measure of inflation, rose 0.4% in February, up 6% from February 2022, the U.S. Bureau of Labor Statistics reported on Tuesday.
- An economist connected this persistent inflation and the crisis surrounding Silicon Valley Bank to the Biden administration’s policies.
- “Over the past week, we have witnessed more fallout from the federal government spending, borrowing, and printing trillions of excess dollars than over the previous several years. Not only did artificially low interest rates stoke inflation, but they also have facilitated a potential banking crisis,” EJ Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, said in a statement after the report’s release.
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