President Joe Biden on Wednesday acknowledged near-term inflation while insisting it would not be problem in the long run, arguing also that trillions of dollars more in proposed infrastructure and social safety net spending would drive down inflation, sparking conservative backlash.
Speaking at a televised town hall in Cincinnati on Wednesday, Biden said that, “there will be near-term inflation” as the economy continues to bounce back from its pandemic lows but insisted price pressures would taper going forward.
