U.S. Inflation Risks, government debt pile up, study shows

After U.S. President Joe Biden enacted one of the largest fiscal stimulus in history, inflation risks are starting to mount, economists said. They are also worried about the growing debt of the government.

The National Association for Business Economics survey conducted Feb. 22-March 5 showed that more than sixty percent of economists suggest that inflation is a greater risk now than it has been in the past twenty years.

Moreover, almost ninety percent of the respondents expressed their concern about the trajectory of public debt.

The study also showed that nearly sixty-six percent of respondents think structural changes are needed to address the budget deficit, with over thirty-three percent support less spending or increasing taxes.

All responses in the recent study were submitted before the American Rescue Plan Act was signed into law.