Experts and data show rising inflation is still temporary: Biden

President Joe Biden, in a statement this week, tried to allay concerns about

the issue of price increases that threaten America’s economic recovery,

saying that the current peak in inflation is “temporary” and not a problem to

long term.

He also stated that the best way to keep the economy on track was to pass

additional state budgets in the form of bipartisan infrastructure packages.

Biden insisted that his vaccination program and national agenda, including

injecting trillions of dollars into the economy, would “ease inflationary

pressures” rather than increase them.

The global supply chain has been challenged to get back on track after the

Covid-19 outbreak, pushing up the prices of most products.

Biden in his speech at the White House stated that some people have

expressed concern that this could be a sign of continued inflation, but it is

not their point of view.

“Our experts believe, and the data shows, that most of the price increases

we have seen are likely to be temporary,” he explained.

Biden also emphasized that the general economic situation is healthy

despite the gloomy forecasts of Republican critics during the six months he

has led the country.