How did the COVID handouts cause inflation? It was only a small amount. Isn't inflation caused by macro-economic forces, e.g. interest, international policy / stability, and free market somethings?
5 Trillion added to the Fed balance sheet is not a small handout. They didn't o ly hand out money to individuals but also gave to businesses and propped up the bond market.
Let's not forget, though, that Trump is the one who kicked this off: he signed the first COVID-related stimulus package ad the end of March 2020, to the tune of $2 trillion.
Given that he was only in office for the first year of the pandemic, it seems reasonable that Biden signed another $3 trillion away. If all that caused inflation, Trump and Biden deserve the blame together.
The reason COVID handouts caused inflation while the '08 handouts didn't is that the COVID handouts went to regular people who spent the money while the '08 was wasted on bailing out the 1%, who spent it on assets that regular people don't buy every week.
Yes as a person you got a modest check. You don’t remember all the fraudulent “loans” than have been prosecuted? Most of the money went to !individual people.
