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Inflation Numbers Are Up, but Economists Say Take Them With a Grain of Salt
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The Week s Top Stories: Disney Earnings, AMC Entertainment, Infrastructure
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Late last month, the Biden Administration unveiled a USD 2 trn infrastructure programme that aims to modernise American infrastructure. The American Jobs Plan has four major spending components over the next eight years. First, invest USD 621 billion on clean energy, upgrading and repairing highways, railways, bridges and city transit systems. Second, focus USD 650 billion on improving life in homes, schools with water and broadband systems. Third, spend USD 400 billion on caregivers for elderly and disabled people to create jobs. Finally, invest USD 300 billion in research, development and manufacturing, including USD 50 billion on semiconductor manufacturing. Underlying is a strategy to deliver green lifestyle to combat climate change.