Immigration politically toxic, but it’s helping drive US growth
Immigration has been good for the US economy, just as an out-of-control border becomes the No.1 issue for voters in some states and No.2 in swing states.
Washington | America’s immigration crisis is politically toxic, but the country’s biggest banks are debating whether a surge in both illegal and lawful new arrivals since the end of the pandemic has actually been good for the economy.
And while Wall Street agrees that the addition of millions of workers and consumers has helped fuel steady output growth, questions remain around the inflationary pressures of all this new spending and demand for services.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
