And the Fed expects it to hit by summer.
https://www.reuters.com/article/us-u...-idUSKBN29W147
So will another 1.x trillion dumped into the economy make it worse.
I believe so.
I think amusing that the Fed is several weeks behind private industry professionals.
A lot of whom are on the road to their industrial clients on another round of manufacturing planning for the next couple years, and/or doing the guest lecturer on econ in the pandemic world.
So what will Biden do about inflationary govt spending?
Get the industrial base upset?
Get the handout folks upset by slowing down?
Either way a large portion of his voter base will get upset.
Edit add,
Btw, in the manufacturing environment inflationary pressures do limit job count expansion on the production line.