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World

Does Joe Biden understand inflation?

11 November 2021

4:00 AM

11 November 2021

4:00 AM

I have a horrible feeling that the Biden presidency may come to be defined by a single quote which will echo down the ages, featuring not just in economics textbooks but becoming a byword for hubris of all kinds. Speaking of his $1.75 trillion ‘Build Back Better’ plan, the President declared last week: ‘Seventeen Nobel prizewinners in economics have said that my plan will ease inflationary pressures’.

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