The resurgence of coronavirus is a bigger concern than inflation – White House Boushey
The United States is not at risk of a dangerous period of inflation after an extraordinary month of earnings for workers, a senior economic official from Biden said on Friday, but the accelerated pace of business reopening could cause the resurgence of coronavirus.
“We need to contain the virus to make the economy work, and people are seeing a lot more confidence,” he said. Heather Boushey, a member of the White House Council of Economic Advisers, after the government increased vaccines and signed a $ 1.9 trillion stimulus project.
“The question is whether we are going too fast, too soon.“A Department of Labor report on Friday showed that the US economy created most jobs in seven months in March, a report that could usher in this year’s strongest economic performance in decades.
President Joe Biden’s government aggressively pushed for a $ 1.9 trillion stimulus bill in Congress in his first weeks in office and is working to have enough vaccine in stock to cover all adults in the country by May.
A new government plan released on Wednesday would add more than $ 2 trillion in additional spending on infrastructure and other jobs over the next 8 years.
Boushey said the government has not yet produced its own estimate of how many jobs this effort would create because it “really depends on how some of the details work” as the government negotiates with Congress. But she said that a projection of the jobs that will be created will come “in the not too distant future”.
Biden said on Friday that some studies show that it can create 19 million jobs.