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Biden Betting On Wage Growth, While GOP Warns Of Inflation

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FILE - In this Dec. 19, 2019, file photo Democratic presidential candidate former Vice President Joe Biden, speaks at a rally in support of McDonald's cooks and cashiers who are demanding higher wages and union rights, outside a McDonald's restaurant in Los Angeles. The Biden administration is giving a bit of simple advice to businesses that are unable to find workers: Offer them more money. Boosting wages gets at the central promise of the Biden presidency to improve the lives of everyday. (AP Photo/Ringo H.W. Chiu, File)

(AP) — The Biden administration is giving a bit of simple advice to businesses that are unable to find workers: Offer people more money. This recommendation is in a White House memo about the state of the economy, and it gets at a fundamental tension in an economy that’s returning to full health after the coronavirus pandemic. Businesses are coping with spiking prices for goods such as steel, plywood, plastics and asphalt. But workers are no longer interested in accepting low wages. Republicans say this dynamic will lead to inflation. Biden is betting it leads to middle-class security.

 

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