{"id":599696,"date":"2021-07-21T22:05:30","date_gmt":"2021-07-22T02:05:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=599696"},"modified":"2021-07-21T22:05:32","modified_gmt":"2021-07-22T02:05:32","slug":"biden-multi-trillion-dollar-spending-bills-will-reduce-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-multi-trillion-dollar-spending-bills-will-reduce-inflation\/","title":{"rendered":"Biden: Multi-Trillion Dollar Spending Bills \u2018Will Reduce Inflation\u2019"},"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\">16<\/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%2Fbiden-multi-trillion-dollar-spending-bills-will-reduce-inflation%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=599696&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\/Screenshot-16-e1626915522354.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>President Joe Biden said Wednesday that multi-trillion dollar spending bills proposed by his administration and congressional Democrats will reduce inflation, not drive it.<\/p>\n<p>Biden was responding to a question during a CNN town hall, in which a college student asked how his administration is preventing the economy from \u201coverheating\u201d and driving up prices on the low- and middle-class. When asked by moderator Don Lemon if \u201cpumping all of this money into the economy\u201d would drive higher inflation, Biden cited <a href=\"https:\/\/www.moodysanalytics.com\/-\/media\/article\/2021\/macroeconomic-consequences-of-the-infrastructure-and-budget-reconciliation-plans.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">an analysis released Wednesday by Moody\u2019s<\/a> arguing his spending proposals would promote economic growth without increasing inflation.<\/p>\n<p>\u201cMoody\u2019s today, a Wall Street firm not some liberal think tank, said if we pass the other two things I\u2019m trying to get done, we will in fact reduce inflation, reduce inflation, reduce inflation,\u201d Biden said.<\/p>\n<p>\u201cWe\u2019re gonna be providing good opportunities and jobs for people, who in fact are going to be reinvesting that money back in all the things we\u2019re talking about, driving down prices, not raising prices,\u201d the president added. \u201cI don\u2019t know anybody\u2026 suggesting that there\u2019s any long-term march here.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2021\/07\/12\/inflation-joe-biden-united-states-economy\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: The Numbers Are In, Biden\u2019s Inflation Is Not Going Away)<\/a><\/strong><\/p>\n<p>Biden also said, however, that prices have gone up in some sectors of the economy, attributing it to businesses getting back on their feet after the pandemic. The president also told a restaurant owner that his business may continue to \u201cbe in a bind\u201d for a while longer.<\/p>\n<p>In late May, as inflation began ramping up alongside the re-opening economy, <a href=\"https:\/\/dailycaller.com\/2021\/05\/24\/economists-inflation-federal-reserve-national-association-for-business-economics\/\" target=\"_blank\" rel=\"noopener noreferrer\">numerous top economists<\/a> predicted there would be an increase in inflation, at least in the short-term. A key Federal Reserve <a href=\"https:\/\/dailycaller.com\/2021\/06\/25\/inflation-united-states-economy-federal-reserve\/\" target=\"_blank\" rel=\"noopener noreferrer\">measure showed inflation increased<\/a> more between June 2020 and May 2021 than any other 12-month period since the 1990s. <strong><a href=\"https:\/\/dailycaller.com\/2021\/07\/21\/bipartisan-infrastructure-framework-fails-senate-joe-biden-chuck-schumer-rob-portman\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Bipartisan Infrastructure Framework Fails To Advance In The Senate)<\/a><\/strong><\/p>\n<p>Biden\u2019s Treasury Secretary, former Federal Reserve Chair Janet Yellen, <a href=\"https:\/\/dailycaller.com\/2021\/07\/16\/janet-yellen-treasury-department-federal-reserve\/\" target=\"_blank\" rel=\"noopener noreferrer\">predicted the economy<\/a> will see \u201crapid inflation\u201d in the coming months after repeatedly insisting inflation was not a concern during the first several months of her tenure. A New York Federal Reserve <a href=\"https:\/\/dailycaller.com\/2021\/06\/14\/joe-biden-federal-reserve-rick-scott\/\" target=\"_blank\" rel=\"noopener noreferrer\">report released in June<\/a> found consumer fears about inflation had reached an all-time high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden said Wednesday that multi-trillion dollar spending bills proposed by his administration and congressional Democrats will reduce inflation, not drive it.Biden was responding to a question during a &#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-599696","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\/599696","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=599696"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/599696\/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=599696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=599696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=599696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}