{"id":403530,"date":"2021-04-09T12:28:52","date_gmt":"2021-04-09T16:28:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=403530"},"modified":"2021-04-09T12:28:54","modified_gmt":"2021-04-09T16:28:54","slug":"u-s-spending-limited-supply-leads-to-increased-prices","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-spending-limited-supply-leads-to-increased-prices\/","title":{"rendered":"U.S. spending, limited supply leads to increased prices"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-spending-limited-supply-leads-to-increased-prices%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=403530&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2395579\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2395579\" class=\"wp-caption-text\">FILE \u2013 In this Dec. 1, 2020 file photo, Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill in Washington. (Al Drago\/The New York Times via AP, Pool)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 9:23 PM PT \u2013 Thursday, April 8, 2021<\/h5>\n<p>While speaking at the International Monetary Fund and World Bank spring meeting on Thursday, Federal Reserve chair Jerome Powell said the surge in U.S. spending as the economy reopens paired with limited supply is forecast to drive prices higher this year.<\/p>\n<p>\u201cAnd now we have a situation where the economy is reopening\u2026there will be bottlenecks, perhaps, but it seems unlikely that that will change the underlying inflation psychology that has taken deep roots over the course of many, many years,\u201d he stated. \u201cSo that\u2019s what we think\u2026we think that there will be upward pressure on prices, which may be passed along to consumers in the form of price increases.\u201d<\/p>\n<p>Officials added that inflation is projected to be at 2.5 percent by 2022, which is higher than the Fed\u2019s 2 percent target. The projections came after Joe Biden\u2019s $1.9 trillion <a href=\"https:\/\/www.whitehouse.gov\/american-rescue-plan\/\">American Rescue Plan<\/a> was criticized by GOP lawmakers for the damage it would do to the economy by raising prices and increasing the probability of inflation.<\/p>\n<p>\u201cWe\u2019re doing damage to the future of this country by spending dramatically more money than we obviously need at this particular point at which time the economy is coming back,\u201d stated Sen. Mitch McConnell (R-Ky.). \u201cWe\u2019re on the way out of this\u2026we\u2019re about to have a boom and if we do have a boom, it will have absolutely nothing to with this $1.9 trillion.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Democrats\u2019 \u201cinfrastructure\u201d proposal goes way beyond what working Americans would call infrastructure. It tries to use a bipartisan issue as a Trojan horse for tax hikes and miscellaneous liberal policies. <\/p>\n<p>We need to tackle infrastructure in a more targeted way. <a href=\"https:\/\/t.co\/GWlADEG2SD\">pic.twitter.com\/GWlADEG2SD<\/a><\/p>\n<p>\u2014 Leader McConnell (@LeaderMcConnell) <a href=\"https:\/\/twitter.com\/LeaderMcConnell\/status\/1380221119798652929?ref_src=twsrc%5Etfw\">April 8, 2021<\/a><\/p>\n<\/blockquote>\n<p>The IMF\u2019s Steering Committee added that the global recovery from the pandemic is faster than expected, but they warned a spike in interest rates would be painful for emerging economies.<\/p>\n<p>Additionally, the Biden administration seeks to pass a new bill, which would allocate $2 trillion to infrastructure. The Treasury Department released a plan for an overhaul of the corporate tax structure, which would raise more than $2 trillion over 15 years in order to fund Biden\u2019s plan.<\/p>\n<p>Republican lawmakers are pushing back against the bill, which they believe has the potential to be detrimental to U.S. corporations.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/ga-gov-kemp-to-oan-mlb-has-wilted-to-cancel-culture-and-woke-movement\/\"> Ga. Gov. Kemp to OAN: MLB has \u2018wilted to cancel culture and woke movement\u2019<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>FILE \u2013 In this Dec. 1, 2020 file photo, Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill in Washington. (Al Drago\/The New York &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2275989,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-403530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/403530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=403530"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/403530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2275989"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=403530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=403530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=403530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}