Economy

Shift in U.S. spending emphasis ‘almost the end of Reaganomics’

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U.S. President Joe Biden attends an event where he announced administration plans to double its order of the single-shot Johnson & Johnson coronavirus vaccine, procuring an additional 100 million doses, in the South Court Auditorium at the White House in Washington, March 10, 2021.

Tom Brenner | Reuters

The change in emphasis for fiscal stimulus in the U.S. under President Joe Biden has effectively signaled “the end of Reaganomics,” according to Embark Group CIO Peter Toogood.

The government and the Federal Reserve have deployed unprecedented levels of support over the past year as they look to guide the economy out of the coronavirus crisis.

Last week, Biden signed a $1.9 trillion relief…



Source cnbc.com

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