Bill Ackman, an investor, tweeted in support of claims that CPI is a poorly calculated measurement and that inflation may persist. Reports of US Government spending may set prices and wages expectations, leading to a rise in inflation.
A report from CBO revealed that the $2 trillion Build Back Better bill is estimated to cost $5 trillion and add $3 trillion to the deficit, causing concerns over inflation and future taxes among businesses and individuals alike.
With the passing of the new $5 trillion COVID stimulus package for "Build Back Better," the risk of inflation on a scale closer to World War II levels is becoming a growing concern among economic experts, as previously passed stimulus bills continue to add pressure to the economy.
The podcast discusses the job situation where people are resigning despite more job openings and salary hikes. Bill Ackman's tweet about the inaccurate calculation of CPI and the sources of data is also talked about.