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It was not a bad take, the stimulus packages have directly attributed to the massive inflation we have now, despite the Biden Administrations attempt to blame

• IX-103 4y ago
  That's unfortunately true, though the the reduced productivity from the pandemic was another major factor. The increase in money supply provided by the stimulus, particularly the portion that went to economic segments with significant remaining marginal utility for the goods and services included in inflation measures (e.g. poor people that haven't been getting enough essentials) likely is a large driver of the initial inflationary pressure. The additional economic inefficiencies from the job-swapping and slow hiring coming out of the pandemic were also major factors. I don't, however, think that one-time stimulus could maintain the current inflation, which is probably due more to the hiring difficulties and natural positive feedback loop that maintains inflationary economies. Of course, if we hadn't diverted so much of the economic gains from the past decades to the wealthy and instead allowed a proportional increase across the economic strata, I expect the inflationary effect of the economic stimulus would have been far less muted (since there would have been much less pent up demand).