Biden ignores bipartisan warnings, insists spike in inflation is ‘temporary’ | WHAT REALLY HAPPENED

Biden ignores bipartisan warnings, insists spike in inflation is ‘temporary’

President Biden said Monday that “no serious economist” is worried about long-term inflation, ignoring the bipartisan warnings of economists including Democratic former Treasury Secretary Larry Summers, as the president tried to shore up his crumbling case for $4 trillion in new infrastructure spending.

The president said in a White House address that the economy is riding “ups and downs,” including price increases, supply shortages and an inflation rate that clocked in last month at a 13-year high of 5.4%. But Mr. Biden insisted the spike in inflation is temporary.

“There’s nobody expecting unchecked inflation on the way, no serious economist,” Mr. Biden said.

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