White House maintains that Biden's $4.5 trillion infrastructure bills won't cause inflation to jump
White House press secretary Jen Psaki told reporters Thursday that the White House is "vigilant" in monitoring inflation signals but maintained that President Joe Biden's infrastructure proposals will help reduce rising prices.
Psaki, asked about comments made by Federal Reserve Board Chairman Jerome Powell, mentioned that "experts believe" that "most of the price increases are expected to be temporary through the consequences of restarting an economy shut down during the pandemic."
"I want to be clear," she added, "we understand the threat that input inflation poses. We will be vigilant as responses are needed or needed as it relates to legislation we're continuing to advocate for."
The top White House spokesperson claimed that "the way to keep prices in our economy down is to increase the supply of goods that consumers want to buy and keep the costs of producing and getting them to market lower."
"That's exactly what the president's bipartisan infrastructure framework and the Build Back Better plans will do," Psaki continued. "It will also, as we work to pass the Build Back Better reconciliation package, increase the availability of child care, more workers will enter the workforce, increasing our output and helping to keep prices down. So we are quite mindful of it."