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"The price increases right now are absolutely an issue," says @BrianDeeseNEC on #inflation. "We are recognizing we don't want to add to aggregate demand right now. We want to fully offset the cost of investments we are making." pic.twitter.com/UwiNFTJOk3
— Squawk Box (@SquawkCNBC) January 14, 2022
Wait, I thought inflation was good?
Now it’s back to being bad again?
So can you now be banned from the internet for saying inflation is good?
As inflation continues to plague Americans, White House National Economic Council Director Brian Deese admitted Friday that rising prices of goods are “absolutely an issue.”
During an interview with CNBC’s “Squawk Box,” Deese was pressed by host Joe Kernan about whether President Biden is getting the right advice concerning the economy. Kernan cited Sen. Joe Manchin’s concerns that additional government spending could cause inflation to worsen.
Deese insisted that Manchin “is a close partner,” despite the West Virginia Democrat insisting this month that no negotiations are taking between him and the White House since he announced his opposition to Biden’s Build Back Better Act last month.
“What we’re advising [Biden], and what the president thinks, is that the price increases right now are absolutely an issue, absolutely an issue,” Deese admitted. “They’re affecting families where they are, but they’re also affecting sentiment and the outlook, which is why our focus is on what we can do concretely to bring down those costs in the context of, the Federal Reserve is moving and operating independently.”
Deese added that investments in the Build Back Better agenda would contribute to economic growth so long as the spending is paid for.
Yeah, printing more money will probably lower prices or make everyone rich or something.
We just have to trust the plan.
