Economy

Everything is about to get more expensive. It's a crucial next step for the US economic recovery

Posted On: Apr 23, 2021   |   Posted By: Business Insider

Everything is about to get more expensive. It's a crucial next step for the US economic recovery

Summary List Placement Experts are growing increasingly hopeful the US economy will rebound in 2021, but there's a price to pay for that. The price of most things, actually.
A vaccine rollout, a $1.9 trillion stimulus package, and the lift in spending from December's smaller stimulus paint a promising picture of a roaring, reopened America with lively restaurants, indoor dancing, and crowded stadiums. The economy is set for "stellar" growth as the pandemic subsides, a Bank of America note stated Monday, while boosting its 2021 GDP growth estimate to 6.5% from 6%.
It could all be the biggest boomtime in the US economy in a generation - but not without a cost.
While history indicates that the US likely won't see an overheated economy after Biden's massive stimulus package launches, Wall Street is predicting that certain goods and services might become more expensive.
JPMorgan's David Kelly wrote in a recent bank note that high demand could "boost prices" across a range of services as the pandemic recedes over...

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