Economists See Biden Infrastructure Plan Powering Growth; Criticism Muted

President Joe Biden’s plan announced Wednesday to plow $2 trillion into an eight-year overhaul of U.S. infrastructure was met with only limited carping from many voices normally critical of government spending. Meanwhile, economists expressed broad agreement that the plan, as proposed, would power long-run economic growth.It is certainly possible that pumping that much money into the economy, with interest rates near zero and a nascent recovery already taking shape, could cause inflation, said Mark Hamrick, senior economic analyst for Bankrate.com.However, he said, “The other part of the discussion is, there’s clearly a huge risk from failing to address infrastructure needs.more