In the United States, where prices continue to rise at record levels, the opposition party has been pursuing a series of pursuits that the Biden administration's aggressive fiscal policy has accelerated demand and accelerated inflation, and the administration has strongly argued that inflation is fierce. It has become.
The House of Representatives of the United States held a hearing to examine fiscal policy on the 1st and asked Treasury Secretary Janet Yellen for testimony.
Among them, the opposition Republican Party said, "It will be a form of pouring oil on the recovery of the economy," over the economic measures of 200 trillion yen in Japanese yen centered on cash benefits to households established in March. "Prices have risen," and so on, saying that the Byden administration's aggressive fiscal policy has pushed up demand excessively and accelerated inflation.
In response, Treasury Secretary Janet Yellen said, "It is certain that we put money in the pockets of the people and increased demand, but it is only a small factor." The biggest factor of inflation is the supply chain due to the influence of the new coronavirus. He argued that it was a turmoil in the supply network.
On that basis, he emphasized the legitimacy of large-scale fiscal mobilization, saying that the 200 trillion yen expenditure bill, which includes free nursery schools that are being deliberated by the parliament, is a necessary policy for society, such as promoting the employment of women.
In the United States, there has been a long-standing conflict between the ruling and opposition parties over how fiscal mobilization should be, but the debate is intensifying as inflation prolongs.