As Biden lays out ambitious plans to stimulate the US economy and fight inequality with new money creation (spending) and money destruction (higher taxes on corporations, capital gains and the right), a firing squad of economists assembled to issue dire inflation warnings.
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They're repeating the economic doctrine of the pasty 40 years, an austerity doctrine that focuses on the inflationary risks of "deficit spending" (when governments don't tax as much money out of the economy as they inject in the same year).
It's a doctrine that made a pretense to being a science, going to far as to create a fake "Nobel Prize" in economics in a bid for scientific credibility (the Nobel administrators eventually folded the economics prize into its administrative remit).
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