CNN host Jack Tarper put pressure on White House economic adviser Brian Diess on the president’s comments on Sunday Joe Biden On the issue of inflation in June, among them Has now reached its highest level in 31 years.
Biden said at the time: “By the way, when it comes to inflation, the overwhelming consensus is that it will suddenly appear a little bit, and then it will fall back.”
Tapper also played a segment of Deese talking about inflation: “As far as people are concerned about inflationary pressures in the short term, this is really not a problem,” he said at the time.
“Do you think you and the president are wrong. Inflation is not a short-term problem. It suddenly appears and then falls back?” Tapper asked Diss.
“No, I don’t think so, Jack,” Diss replied. “I think what we have been saying is that the pandemic and the economy are interrelated, and of course we see that just as the Delta variant poses real health challenges to the economy, it also has an impact on the economy.”
He added: “Due to the supply chain challenges associated with COVID, we are seeing these price increases and global inflation. That’s why we are now also addressing these issues.”
Diss said the government is “cooperating with ports across the country to allow goods to circulate faster in the economy.”
Kevin Deitch
Infrastructure package Congress Recently passed “the most important step we will take in decades to actually invest in the arteries that help transport goods cheaper and more efficiently.”
Then, Tarper put pressure on Diss on the US$1.9 trillion COVID rescue plan promoted by the Biden administration, the US rescue plan. Tapper pointed out that Larry Summers, who was the director of the National Economic Council under the leadership of the former president, Barack Obama, That the bill is one of the main reasons behind inflation.
“Is it possible for Americans to suffer high housing prices because the Biden administration over-stimulated the economy and put all this money into the economy?” Tapper asked.
“No, that’s not our opinion. The American rescue plan rescued us from a serious economic emergency,” Deiss said, noting that when Biden took office, 18 million Americans were receiving unemployment benefits, every day. Thousands of people died.
Diss also stated that Summers agrees with the Biden administration’s view that Democratic Party‘The Rebuild Better Act is a nearly $2 trillion social expenditure measure that will not increase inflation and “actually increase the productive capacity of our economy.”
Tapper then asked Diss when he thought the inflation rate would return to “2% below normal.”
Diss said most experts believe that inflation “will ease next year.”
“But I really think…Most Americans are less interested in predictions. They are more interested in actions and seeing concrete actions that try to solve these problems. That’s our focus.”
