In an interview that aired on Friday’s issue of the Fox Business Network program “Maria Bartiromo’s Wall Street,” Sen. Bill Hagerty (R-TN) said the economy was “still experiencing high inflation” due to unspent money from the American plan. The bailout is now in state and local government coffers, and when that money is eventually spent by those governments, “There’s only one thing it can do: increase the upward pressure on prices, raise inflation.”
Hagerty said, [relevant remarks begin around 2:55] “Inflation is included in the pipeline because these state and local governments have not yet deployed the funds, which are huge amounts of funds put in their coffers. Again, it all started in March 2021 when the Biden administration and all partisan Democrats developed this massive $2 trillion package. And there’s a lot of inflation because of the money that’s still in the coffers of these states and local governments that hasn’t yet entered the economy. Once it emerges, it has only one thing to do: raise price pressure, raise inflation.”
Source: Breitbart
