TT Biden's economic advisor admitted that the US will suffer from inflation

TT Biden’s economic advisor admitted that the US will suffer from inflation


White House Economic Advisory Council Chairman Cecilia Rouse on Sunday (May 2) told Fox News that when America comes out of the corona virus pandemic, there will be “temporary inflation“.

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When host Chris Wallace asked: “Do you assure all this spending that we will not have a new cycle of overheating economy and severe inflation? ” Ms. Cecilia Rouse replied: “There are serious concerns, and we know that the process out of a deep recession will be accompanied by a bounce. We anticipate supply chain disruptions. That would cause a temporary price increase“.

Mrs. Rouse continued: “We know there are some places where employers will struggle with recruiting because we are still in the midst of a pandemic. Some workers want to go back to work, but it is in front of them taking care of children because schools are still not open and a pandemic is still out of control in certain parts of our country. As we get past the other side of this pandemic, I fully expect that our labor market will return and flourish. Hence, we do anticipate some temporary price increases. So is the US Federal Reserve … So we know we need to be wary and we are observing the data. We expect the most is temporary inflation. That’s what we anticipate the exit phase of a major recession“.

Also on Sunday (May 2), Finance Minister Janet Yellen reassured inflation concerns as the Biden administration launched massive spending plans to revive the US economy later. pandemic COVID-19.

Ms. Yellen told NBC News that Biden’s infrastructure, employment and family plans will be carried out in phases spanning a decade so it will not cause inflation.

Ms. Yellen added that the Federal Reserve will carefully monitor inflation and have the tools to handle it if necessary.

I don’t believe inflation is going to be an issue, but if it does, we have the tools to deal with it. ”Ms. Yellen said.

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