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House Democrats are set to unveil legislation today that would increase the child tax credit. Plus, will a new COVID relief package from the federal government lead to higher inflation? And, in another sign of streaming's strength, a brick-and-mortar video rental chain closes up the last of its stores.
Segments From this episode
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.
Music from the episode
The Telephone Song Charles Bradley, Menahan Street Band
The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Brian Allison
Engineer
Meredith Garretson
Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Alex Schroeder
Producer