Published On: Thu, Jul 22nd, 2021

Biden Claims His Spending Plans Will Reduce Inflation, Drawing Conservative Backlash

Cirtrus.com: Save 10% on Citrus trees with code CITRUS
Share This
Tags

President Joe Biden on Wednesday acknowledged near-term inflation while insisting it would not be problem in the long run, arguing also that trillions of dollars more in proposed infrastructure and social safety net spending would drive down inflation, sparking conservative backlash. Speaking at a televised town hall in Cincinnati on Wednesday, Biden said that, “there will be near-term inflation” as the economy continues to bounce back from its pandemic lows but insisted price pressures would taper going forward. “The vast majority of the experts, including Wall Street, are suggesting that it’s highly unlikely that it’s going to be long-term inflation that’s going to get out of hand,” he added. Biden traveled to Ohio to drum up support for his economic agenda and, during the town hall, fielded questions on many of the pressing issues of the day, including recent price hikes. Data released last week showed hotter-than-expected June inflation, with the …

About the Author

-