Biden’s student loan relief adds new wrinkle to inflation debate

0

US President Joe Biden’s plan to cancel some of the student loans held by tens of millions of people will ripple through the economy as personal spending and savings change, but no factor will be more closely watched than inflation.

In announcing the plan on Wednesday, the White House signaled that the move would have competing impacts. On the one hand, it would reduce overall household debt and potentially increase purchasing power. On the other hand, it proposes a timetable for relaunching payments suspended for more than two years.

In an age of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us tell the story well.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)

Share.

Comments are closed.