CNBC: Biden’s Build Back Better Bill Will Create More Inflation with Frontloaded Spending

TRANSCRIPT:

MUI: "Democrats also like to cite an analysis by Moody's that shows the package would boost GDP and create jobs, but that same report also projects that inflation will be higher in 2022 and 2023 if this bill is passed by as much as half a percentage point in the middle of next year. Now, Moody’s calls concern about runaway inflation overdone, and points out that higher inflation is a side effect of a stronger economy. But budget experts say the spending in this bill is frontloaded, while the improvements to productivity could take years to play out. And that means the inflationary pressure is greatest next year, just when the political risk is highest heading into the midterms."