Stimulus (Economic)
Inflation Expected to Remain High Even as Economy Slows and Layoffs Rise
“The hunger of children is not a necessary cost to pay to bring down inflation,” Ms. Ananat, of Barnard, said. Republicans, meanwhile, have blamed the Biden administration — and in particular, the $1.9 trillion American Rescue Plan that Democrats passed early last year — for making inflation worse. Many economists, among them Democrats, agree that […]
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White House Struggles to Talk About Inflation, the ‘Problem From Hell’
WASHINGTON — President Biden was at a private meeting discussing student debt forgiveness this year when, as happens uncomfortably often these days, the conversation came back to inflation. “He said with everything he does, Republicans are going to attack him and use the word ‘inflation,’” said Representative Tony Cárdenas, Democrat of California, referring to Mr. […]
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Is ‘Greedflation’ Rewriting Economics, or Do Old Rules Still Apply?
When all prices are rising, consumers lose track of how much is reasonable to pay. “In the inflationary environment, everybody knows that prices are increasing,” said Z. John Zhang, a professor of marketing at the Wharton School at the University of Pennsylvania who has studied pricing strategy. “Obviously that’s a great opportunity for every firm […]
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States Turn to Tax Cuts as Inflation Stays Hot
A new report from the Tax Policy Center, a left-leaning think tank, said total state revenues rose by about 17.6 percent last year. State rainy day funds — money that is set aside to cover unexpected costs — have reached “new record levels,” according to the National Association of State Budget Officers. Yet those rosy […]
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In a Michigan County, Stimulus Funds Are Remaking Public Health Programs
LANSING, Mich. — In an underserved neighborhood of Michigan’s capital city, a health clinic is being built with nearly $900,000 in federal pandemic relief funds, a project that could transform the community’s access to care. Wedged among new affordable apartments and a community center, the clinic is a symbol of the rapid effect the funds […]
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As Biden Pleads for More Covid Aid, States Are Awash in Federal Dollars
FRANKFORT, Ky. — Gov. Andy Beshear has been toting oversize checks around his state in recent weeks, handing them out to city and county officials for desperately needed water improvements. The tiny city of Mortons Gap got $109,000 to bring running water to six families who do not have it. The people of Martin County, […]
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Covid Stimulus Money Brings Clashes Within Cities and Counties
Dutchess County residents were similarly agitated, if less rowdy, at their June 14 meeting about the stadium. Guidance on using the funds issued by the Treasury Department specifically cited stadiums as “generally not reasonably proportional to addressing the negative economic impacts of the pandemic.” So why, those in attendance asked, was this happening? Marc Molinaro, […]
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Berkshire Hathaway Rebounds From the Pandemic
Warren E. Buffett is eager to make one point clear about Berkshire Hathaway, the conglomerate he controls: It is a good corporate American citizen. In announcing Berkshire’s nearly $90 billion profit for 2021 on Saturday, the billionaire stressed in his annual letter to shareholders the outsize role that the company — whose businesses run from […]
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Black Farmers Fear Foreclosure as Debt Relief Remains Frozen
The legal limbo has created new and unexpected financial strains for Black farmers, many of whom have been unable to make investments in their businesses given ongoing uncertainty about their debt loads. It also poses a political problem for Mr. Biden, who was propelled to power by Black voters and now must make good on […]
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