A real estate tycoon’s daughter was last week deported from San Francisco. Her visa has been revoked and a five-year ban on travel to the US imposed on her.
Rebates or cash payments are being proposed in California, New Mexico, Pennsylvania and elsewhere as states are flush with cash and Americans are facing the highest inflation in four decades.
The recent pickup in inflation has caught business leaders and economists around the world by surprise.
Consumer prices in the US have jumped in October at the fastest rate in three decades. If inflation persists in the US, there is risk of dollar appreciation with adverse consequences for India.
The lira dropped to an all-time low of 9.97 against the dollar early Thursday before settling at around 9.93 against the U.S. currency.