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U.S. massive economic stimulus plan owns surging inflation: New York Post(Xinhua) 09:36, April 14, 2022
A consumer selects food at a supermarket in Millbrae, the United States, March 10, 2022. (Photo by Li Jianguo/Xinhua)
NEW YORK, April 13 (Xinhua) -- It was the government's massive economic stimulus plan that put the United States on its path to high inflation, the New York Post has said in an article.
"A new study from the San Francisco Fed shows it was (Joe) Biden himself who put America on this grim trajectory," said the article released earlier this month.
Specifically, said the article, it was the massive 1.9-trillion-U.S.-dollar stimulus dumped into the U.S. economy in early 2021 by the president's American Rescue Plan.
According to a calculation by Bloomberg, said the article, the average U.S. household has to spend an extra 433 dollars per month due to surging inflation.
(Web editor: Xia Peiyao, Liang Jun)
