The jobs report and the Biden plan: the plan is mainly NOT ABOUT STIMULUS: It's disaster relief to get us through the pandemic. It will, however, have some stimulative effect. And some liberalish economists worry about overheating 1/
What the weakness in the economy tells us is to worry a lot less (although I don't think we should have worried much in the first place). The economy seems to be stalling or worse; this means that stimulus from the plan will be a good thing, not a problem 2/
Far better to run the risk of needing some monetary tightening a year from now than risking an inadequate plan that repeats the mistakes of 2009 ... 3/
You can follow @paulkrugman.
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