FAST FIVE: "There's A Debt Hangover Coming" – Stephen Moore Warns Of "Another Financial Crisis" Within 18 Months
“I think sometime in the next 18 months there will be a big correction,” Moore said.
“Why don't we take those trillion dollars,” Moore asked, “and use that for roads and highways and not appropriate another trillion on top of what we've already borrowed?” Moore also said that inflation is accelerating because of Biden's and the Fed's policies.
Senate Majority Leader Chuck Schumer (D-N.Y.) praised Zandi's analysis and urged lawmakers to read the report.
Many prominent economists, including President's Clinton's Treasury secretary Larry Summers, have strongly criticized excessive stimulus packages, raising concerns about the risks of overheating the economy and creating harmful inflation.
Economists are also concerned that the US central bank could end up waiting too long before hitting the brakes to contain inflation.