During a town hall on CNN on Wednesday, President Joe Biden stated that he doesn’t know anyone, including economist Lawrence Summers, who thinks inflation will be a long-term issue “if we do the things we’re going to do” like passing spending he has pushed.
Biden said that the price increases are temporary increases due to the economy recovering after the coronavirus pandemic and argued that passing the spending plans he has touted will actually decrease prices, adding, “I don’t know anybody, including Larry Summers, who’s a friend of mine, who’s worried about inflation, is suggesting that there’s any long-term march here if we do the things we’re going to do. For example, if we get this bill done that I’ve been — put together a long time ago.”
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