This weekend, the Senate passed the coronavirus relief bill—and the House is scheduled to debate the bill, and widely expected to pass it, on the day this episode is published (Tuesday, March 9th). While the Senate debated what would be the largest disaster-relief legislation in American history, moderate Democrats and ultra-conservative Republicans alike repeated one common criticism—that infusing so much money into the economy would cause inflation. Austan Goolsbee, past Chairman of the Council of Economic Advisers, explains why those fears are misplaced in this episode that will answer every question you’ve ever had about inflation, stimulus checks, and disaster relief.
Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business. He previously served in Washington as the Chairman of the Council of Economic Advisers and a member of President Obama’s Cabinet.