Report
Joe Biden’s would-be dilemma
If Joe Biden is elected as president of the United States, he will face a dilemma: He has announced that he would double the minimum wage to USD 15 per hour in the United States, which would clearly be inflationary; He would inherit a huge public and private debt. Further, he has also announced he would increase public spending in many areas: education, healthcare, infrastructure, defence. But if higher inflation drove up interest rates, the inherited or new debt would no longer be sustainable. So what would Biden do? Stagger the minimum wage hike over many years? Get the Federal Reserve to keep interest rates low despite the increase in inflation?
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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