Chuck Schumer Argues Spending Trillions Will ‘Ease Inflation Pres­sures’

Senate Majority Leader Chuck Schumer (D-NY) will release a report Wednesday that argues spending trillions will “ease inflation pres­sures.”

The report, written by Moody’s chief economist Mark Zandi, claims inflation worries are “overdone,” because “much of the additional fiscal support … is designed to lift the economy’s longer-term growth potential and ease inflation pres­sures,” according to Axios.

“Greater investments in public infrastruc­ture and social programs will lift productivity and labor force growth, and the attention on climate change will help forestall its increas­ingly corrosive economic effects,” the report continues, and the plan’s policies “would direct the benefits of the stronger growth to lower-in­come Americans and address the long-run­ning skewing of the income and wealth distribution.”