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One of America’s top bankers told President Biden the U.S. needs a “Marshall Plan” for energy production in light of surging oil prices. Higher energy costs threaten to worsen already high inflation and could even trigger a recession.
The Marshall Plan was a multipronged U.S. strategy after World War II to rebuild Europe, help modernize its economy, and block communism from taking root in the impoverished and war-torn continent.
Source: This post first appeared on http://marketwatch.com/