Matthew Yglesias

Matthew Yglesias @mattyglesias

An important point about loans and inflation — baselines! Biden is ending the repayment moratorium (which will tend to reduce consumption and inflationary pressure) at the same time as canceling debt for non-rich people (which will have the opposite effect). Which dominates? — PolitiTweet.org

Matthew Yglesias @mattyglesias

Now the counterargument goes that the moratorium was scheduled to expire, so the right baseline to use is current law (repayment resumes with no forgiveness) rather than current policy (moratorium stays in place forever). But both perspectives have some value. — PolitiTweet.org