Maybe. He does state that he is worried about budget deficits and inflation. Last month he wrote an open letter to Fed Chair Jerome Powell complaining about inflation. Today, he wrote an open letter to fellow Senators and Congressmen regarding the size of the $3.5 trillion stimulus currently in the works. Sen. Manchin says it is too big and will negatively affect the deficit and inflation. (see links in comments)
The size and annual spending of the current stimulus plans is a key factor in our medium term inflation scenario. Higher permanent spending will cause sustainable inflation and increase the deficit.
So, if you want to solve the inflation problem, you'll have to get Congress to stop spending money and the Fed to raise interest rates. There is a lot of pressure to do the opposite, but nothing will pass without Democratic unanimity in the Senate.
Do you think there is political will to stop inflation?
Here are links to other posts related to Senator Manchin and his complaints about inflation:
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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