The Risks of Too Much 'Stimulus'
Published 15/02/2021
Disposable real per capita income rose 5.5% in 2020, the highest rate since 1984, due largely to transfer payments.
Even among economists who strongly support President Biden, a consensus is growing that the economy emerged from last year set for a robust recovery. That view has been espoused by Bill Clinton’s Treasury Secretary Lawrence Summers and Barack Obama’s former top economist Jason Furman. Both have expressed concern that the economy may overheat.
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