Biden Seeks to Quell Inflation Fears, Calls Price Rises ‘Expected’ and ‘Temporary’

Biden Seeks to Quell Inflation Fears, Calls Price Rises ‘Expected’ and ‘Temporary’
President Joe Biden speaks about the nation's economic recovery at the White House, in Washington, on July 19, 2021. Drew Angerer/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

President Joe Biden on Monday sought to allay inflation fears, saying he expects price increases to be temporary while vowing vigilance for signs of unchecked inflation over the longer term, which he acknowledged would pose a “real challenge” to the economy.

Biden told reporters at a White House press briefing on July 19 that around 60 percent of what’s behind rising prices can be attributed to “transitory effects” like surging demand grating against supply chain bottlenecks as the economy continues to emerge from the pandemic deep freeze.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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