Uncle Sam Blew $3 Trillion on the Virus in Six Weeks
Uncle Sam blew $3 trillion on the coronavirus in six weeks. But the bug is still laying waste to the economy. And the Congressional Budget Office projects a deficit of $3.7 trillion this year. What to do? Hit it with more money.
I know this has been said a lot over the last 10 years but this has to move inflation up. The traditional Fed response to curb inflation? Higher interest rates. Does that bring on a recession? We’ll see. Higher interest rates, all else equal, is great for the funding percentage of pensions.