Biden’s  Trillion Budget Could Fuel Inflation Fears And Bitcoin Gains

When it rains, it pours. It appears that this is true for both weather and expansion to the monetary base of the United States. According to a report by the New York Times, “President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion throughout the next decade.”

Only a year ago, the pandemic began, and the Federal Reserve was forced to initiate a major stimulus for the economy via inflation and quantitative easing. Starting with $2 trillion, the stimulus package was supposed to enable the continuation of the American economy. Of course, the pandemic was simply a catalyst for increasing the already present inflationary practices of the Fed.

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