{"id":597136,"date":"2021-07-19T15:36:14","date_gmt":"2021-07-19T19:36:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=597136"},"modified":"2021-07-19T15:36:15","modified_gmt":"2021-07-19T19:36:15","slug":"watch-biden-says-experts-believe-inflation-is-only-temporary","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-biden-says-experts-believe-inflation-is-only-temporary\/","title":{"rendered":"WATCH: Biden Says \u2018Experts\u2019 Believe Inflation Is Only Temporary"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwatch-biden-says-experts-believe-inflation-is-only-temporary%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=597136&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/Biden-15-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>President Biden dismissed inflation concerns in a speech on Monday.<\/span><\/p>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/inflation-rises-again-hits-5-4\"><span>The Daily Wire<\/span><\/a><span> reported last week, the inflation rate has risen to 5.4% in the largest month-over-month increase since 2008. From the beginning of this year, the Department of Labor\u2019s monthly inflation data has routinely outpaced economists\u2019 forecasts.<\/span><\/p>\n<p><span>Americans\u2019 predictions for inflation have also <\/span><a href=\"https:\/\/www.dailywire.com\/news\/inflation-expectations-under-biden-hit-highest-levels-on-record\"><span>reached<\/span><\/a><span> record highs. The Survey of Consumer Expectations reveals that median one-year inflation expectations among consumers climbed to 4.8% in June \u2014 a 0.8% increase since last month. In January, February, March, April, and May, one-year expectations were 3.0%, 3.1%, 3.2%, 3.4%, and 4.0%, respectively.<\/span><\/p>\n<p><span>President Biden sought to <\/span><a href=\"https:\/\/www.axios.com\/biden-inflation-fears-temporary-economy-edb12baa-6e77-4374-8d9f-e00eb847b8ea.html\"><span>dismiss<\/span><\/a><span> these concerns in a Monday morning speech.<\/span><\/p>\n<p>\n<iframe loading=\"lazy\" title=\"Biden Says Recent Surge in U.S. Inflation Is &#039;Temporary&#039;\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/6Mmcp--_hDw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<p><span>\u201cOur experts believe and the data shows that most of the price increases we\u2019ve seen were expected and are expected to be temporary,\u201d asserted Biden. \u201cReality is you can\u2019t flip the global economic light back on and not expect this to happen. As demand returns, there\u2019s going to be global supply chain challenges.\u201d<\/span><\/p>\n<p><span>\u201cThat\u2019s a real challenge,\u201d Biden added. \u201cMy administration is doing everything we can to address it. But, again, these disruptions are temporary.\u201d<\/span><\/p>\n<p><span>\u201cI want to be clear. My administration understands if we were to experience unchecked inflation over the long-term, that would pose a real challenge to our economy. So, while we\u2019re confident that isn\u2019t what we\u2019re seeing today, we\u2019re going to remain vigilant about any response that is needed.\u201d<\/span><\/p>\n<p><span>As the President mentioned, it is typical for inflation to surge following severe recessions \u2014 a reality driven by rebounding demand for goods and services. Nevertheless, a growing number of prominent economists believe that rising inflation is indicative of policymakers\u2019 changing attitudes toward stabilizing price levels.<\/span><\/p>\n<p><span>Last month, executives from Deutsche Bank <\/span><a href=\"https:\/\/www.dailywire.com\/news\/sitting-on-a-time-bomb-deutsche-bank-sounds-alarm-warns-of-growing-inflation-in-u-s-economy\"><span>characterized<\/span><\/a><span> the global economy as \u201csitting on a time bomb\u201d due to the Federal Reserve\u2019s dovish disposition toward inflation.<\/span><\/p>\n<p><span>\u201cIt is no exaggeration to say that we are departing from neoliberalism and that the days of the new-liberal policies that begun in the Reagan era are clearly fading in the rearview mirror,\u201d wrote economists David Folkerts-Landau, Peter Hooper, and Jim Reid. \u201cThe effects of this shift are being compounded by political turmoil in the US and deeply worrying geopolitical risks.\u201d<\/span><\/p>\n<p><span>Likewise, progressive economist Larry Summers \u2014 who served as Treasury Secretary under the Clinton administration and Director of the National Economic Council under the Obama administration \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/top-democrat-economist-warns-of-biden-inflation-hard-to-put-out-fire-without-doing-a-lot-of-damage\"><span>suspects<\/span><\/a><span> that inflation is more than transitory.<\/span><\/p>\n<p><span>\u201cIf you looked at how the economy was coming into this year, we had total wages and salaries coming to people that were $20 or $30 billion a month lower because many of them had to be home because of COVID and the economy was slowed,\u201d Summers said in a recent interview with PBS\u2019s Margaret Hoover. \u201cBut we put in a stimulus that was putting into the economy more than $200 billion a month. And so when you take a hole and you overfill it, you\u2019re likely to have problems\u2026 You\u2019re seeing, it seems to me, some inflationary psychology take hold.\u201d<\/span><\/p>\n<p><span>\u201cAnd I think we know that inflation\u2019s like a lot of other things, it\u2019s a lot easier to prevent than it is to cure,\u201d he continued. \u201cAnd I think the credibility of policymakers, including those at the Fed, is much easier to preserve than it is to restore.\u201d<\/span><\/p>\n<p><span>Despite rising inflation, the Federal Reserve has not <\/span><a href=\"https:\/\/www.dailywire.com\/news\/after-another-record-inflation-report-the-fed-will-not-taper-monetary-policy\"><span>revealed<\/span><\/a><span> intentions to taper its $120 billion monthly asset purchases \u2014 a policy that drastically increases the supply of the dollar in the interest of stimulating the economy. Meanwhile, following $6 trillion in <\/span><a href=\"https:\/\/www.dailywire.com\/news\/with-6-trillion-in-covid-relief-the-government-could-have-given-every-taxpayer-41000\"><span>spending<\/span><\/a><span> from three federal COVID-19 stimulus bills \u2014 two of which were passed under President Trump, and one of which was passed under President Biden \u2014 Congressional Democrats are attempting to enact another $3.5 trillion in spending without Republican support.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden dismissed inflation concerns in a speech on Monday.As The Daily Wire reported last week, the inflation rate has risen to 5.4% in the largest month-over-month increase since 2008. &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-597136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/597136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=597136"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/597136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=597136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=597136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=597136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}