President Joe Biden’s $4.5 trillion infrastructure proposals will not lead to higher inflation if they are passed by Congress, White House press secretary Jen Psaki said on July 15.
“Our experts believe—and the data shows and the Federal Reserve chair, who operates independently, conveyed, yesterday—that most of the price increases we are seeing are expected to be temporary due to the consequences of restarting an economy shut down during the pandemic. And we’re seeing that in certain industries more than others as prices go back to where they were pre-pandemic,” she said.
