By The FirstPresident Biden refused to accept responsibility for the highest rate of inflation in nearly 40 years this week; instead saying “at the bottom” of all economic problems “is COVID.”
“This will diminish inflation. It doesn’t raise inflation. That’s hard for people to think about right now because inflation is up and there’s a direct correlation in most people’s minds… Why is there inflation? The government’s spending money. That’s not the reason for the inflation,” said Biden.
“The reason for the inflation is we have a supply chain problem that’s really severe… At the bottom of it all is COVID,” he added.
Watch Biden’s comments above.
