President Biden still doesn’t get it.
Pandering once again to restive progressives whom he desperately needs to come out and vote in November, Biden has extended the moratorium on student loan repayments through Aug. 31. This is bad policy and will make inflation worse.
Inflation emerged in the U.S. last year because amid a fast-recovering economy, federal spending went through the roof. As JP Morgan CEO Jamie Dimon wrote in his annual shareholder letter recently, “in hindsight, the medicine (fiscal spending and QE) was probably too much and lasted too long.” Amen to that.
Read more at Thehill.com