Increasing the child tax credit
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There's a debate raging among economists about whether a large COVID relief package will lead to inflation
The 30-year Treasury yield and crude oil prices are both hitting their highest marks in months if not years. What’s going on? Julia Coronado, founder and president of MacroPolicy Perspectives, said “this is what we are calling the reflation trade.” Essentially, investors and economists are weighing whether a large federal COVID relief package, combined with vaccination and an eventual reopening of the economy, will produce inflation. That’s what’s leading oil prices and bond yields higher. But Coronado doesn’t exactly buy it, pointing out the weak labor market, for one reason. ” I think the stimulus package will help get the economy back on track, for sure,” she said. “Whether it will generate sustained inflation, you can call me deeply skeptical on that.”
House Democrats, following Biden's plan, move on legislation to increase the child tax credit
Marketplace’s Nancy Marshall-Genzer has more.