Economics
Yellen, Summers Spar About Overheating Risk in Stimulus Plan
- Scale of Biden’s $1.9 trillion proposal dwarfs 2009 rescue
- Economists cite risks of stoking prices as capacity stretched
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In making the case for a mammoth $1.9 trillion economic relief package, President Joe Biden and his acolytes had maintained that economists across the board agreed that now is the time to go big in the fight against the pandemic.
Well, so much for that. A number of prominent economists and former policy makers -- from Democrat Lawrence Summers to Republican Douglas Holtz-Eakin -- have raised questions in the past week about the size of the package. So too have some economy watchers in the financial markets.