Biden’s top economic adviser urges passage of economic bill to combat rising inflation

Biden’s top economic adviser urges passage of economic bill to combat rising inflation
Alex Wong/Getty Images

President Joe Biden’s top economic adviser on Sunday cited rising inflation in the US as a reason for Congress to pass the President’s massive economic package, arguing the legislation will help stymie rapidly rising prices of consumer goods.

“Well, inflation is high right now, and it is affecting consumers in their pocketbook and also in their outlook for the economy. But those concerns underscore why it’s so important that we move forward on the Build Back Better legislation — this legislation that the House is going to consider this week,” Brian Deese, the director of the National Economic Council, told CNN’s Jake Tapper on “State of the Union.”

“This, more than anything, will go at the cost that Americans face,” he added, noting that the bill’s provisions won’t add to any inflationary pressures.

The comments from Deese come as House Democrats hope to pass the $1.75 trillion economic bill this week, pumping money into a number of social safety net programs that the White House aide argued “go at lowering costs for American families.”

Deese acknowledged during his interview that inflation is “high right now,” and, when asked by Tapper when inflation will go back below the 2% level considered normal, he pointed to experts estimating it would happen in 2022.

This story is breaking and will be updated.

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

-advertisement-

Popular Stories

Concert Calendar

Featured Events