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Biden and Congress Still Haven’t Made Inflation Central in Budget Matters
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wsj.comInflation is the economy’s number one problem. The Federal Reserve understands this and has adapted accordingly. Congress and President Biden still haven’t.
To be sure, the massive omnibus spending bill likely to pass Congress doesn’t include big new stimulus. Business tax cuts, an expanded child tax credit and health spending boosts that would have tacked hundreds of billions of dollars onto deficits and elevated inflation pressure in coming years were all dropped.
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