Speaking about Inflation Monday, President Biden said “Our experts believe and the data shows that most of the price increases we’ve seen were expected and are expected to be temporary,.Reality is you can’t flip the global economic light back on and not expect this to happen. As demand returns, there’s going to be global supply chain challenges.”
“That’s a real challenge,” he continued. “My administration is doing everything we can to address it. But, again, these disruptions are temporary.”
“I want to be clear. My administration understands if we were to experience unchecked inflation over the long-term, that would pose a real challenge to our economy. So, while we’re confident that isn’t what we’re seeing today, we’re going to remain vigilant about any response that is needed,” Biden added.