Heather Boushey, a member of President Joe Biden‘s Council of Economic Advisers, has defended the administration’s economic policies and stimulus packages, attributing the high inflation to the Covid-19 pandemic rather than these measures, CNBC reports.
Defending Biden’s Economic Policies
“What the president did when he first came into office, the American Rescue Plan — we were in the middle of a pandemic, and he put in place a policy that gave us enough flexibility to deal with all the challenges that came our way,” Boushey said in an interview at the Aix-en-Provence economic forum in France.
Global Pandemic as the Real Cause
“The inflation, the real cause was the global pandemic, and that is about the resiliency of our global supply chains,” Boushey added, emphasizing the need for investments to foster supply chain resiliency and a shift towards clean energy.
See Also: White House Economist Reportedly Says Fed’s Rate Hikes Having Negative Impact On Banking Sector
Inflation and Economic Growth
Despite inflation in the U.S. reaching a four-decade high in mid-2022, Boushey noted that the inflation rate had “come down for 11 months now” and that the U.S. had also “seen stronger growth than other G7 countries, and we have not seen higher inflation.”
Read Next: Fed Officials See End Of Tightening Cycle On Horizon, But Only After A Few More Rate Hikes
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