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December 28, 2021

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Price for grocies, gas and more are rising at a pace not seen in decades. Your inflation questions answered.

Appleton Post-Crescent

Quoted: At the beginning of the pandemic, the rate of inflation was almost zero and prices were falling, said Dr. Menzie Chinn, an economics professor at the UW-Madison La Follette School of Public Affairs.

In response, the government passed robust support packages — including stimulus checks, enhances unemployment benefits and tax cuts — to boost spending. The spending those programs created was concentrated more on goods than services, Chinn said.

“We have kind of a weird time where people have shifted more towards buying goods and we get a lot of our goods from China and abroad,” Chinn said. “So that means you have this collision, at least in the goods sector, of enhanced demand and not quite enough supply to keep up. And what happens is prices go up. Supply and demand.”

UW Expert: Child Tax Credit End Could Be ‘Devastating’ for WI Families

WXPR

Wisconsin families may have received their last Child Tax Credit payment for a while, as Congress has missed its year-end deadline to pass President Joe Biden’s Build Back Better framework.

The roughly $2 trillion package would have reauthorized the expanded Child Tax Credit through 2022. Parents received their last credit on Dec. 15, and Timothy Smeeding, professor of public affairs and economics at the University of Wisconsin Madison, said to get the rest of the aid, they’ll need to file their income tax returns for 2021.

“So, there’s still another $1,500 or $1,800, depending on how old the child is, that will come to them once they file their taxes this next spring,” he said.

Health

Athletics

UW women’s basketball cancels 2nd game because of COVID-19

NBC-15

The University of Wisconsin’s women’s basketball team has canceled its second consecutive game because of positive COVID-19 tests within the program. On Monday, the university announced the Dec. 30 matchup against Big Ten rival Purdue at the Kohl Center will not be played and UW gave no indication that it would be re-scheduled.

UW Experts in the News

Obituaries

Holloway, Arlan Joseph “Arlie”

Wisconsin State Journal

Arlie worked as an insulator for over 40 years and was a member of the International Association of Heat and Frost Insulators and Asbestos Workers Local 19 Union. He also worked for UW-Madison his final years before retirement.