HOW BUDGET COULD FUEL THE FIRES OF INFLATION

HOW BUDGET COULD FUEL THE FIRES OF INFLATION

CONGRESS HAS ALREADY GIVEN HIM TAX CUTS AND INCREASED DEFICIT SPENDING THAT IS EXPECTED TO STIMULATE THE ECONOMY.

The budget proposal follows business and household tax cuts enacted last month and a federal funding law passed last week that could push budget deficits to around $1 trillion a year.
Over the long run, higher interest rates could counter all of Trump's fiscal stimulus, said Jason Furman, a White House chief economist under former Democratic President Barack Obama.
A Chicago Federal Reserve Bank survey last month found companies expect to spend only a quarter of tax savings on capital investments.

WASHINGTON (Reuters) - U.S. President Donald Trump with his budget proposal raises his bet that he will boost the economy before high inflation and interest rates get in the way. Congress has already given him tax cuts and...

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Article ID: 223098 Date: 13th February, 2018 Social Shares: 62
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