Will the Biden spending package result in runaway inflation? No!

President Joe Biden speaks after signing an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC.
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Economists like Larry Summers are worried the Biden fiscal stimulus plans will result in runaway inflation.
Both the COVID relief package and the infrastructure stimulus will not result in high inflation.
There's no reason to fear overheating of the economy.
Dan Alpert is an adjunct