Biden economic aide: US recovery has been “spectacular” and suggests inflation fears overblown
President Biden’s chief economic adviser Professor Cecilia Rouse has described the US economy’s recovery as “spectacular” but warned of a “bumpy” time ahead.
Rouse, the Chair of the White House’s Council of Economic Advisors, told the BBC that she felt price pressures would be “transitory” and said Biden’s macro-economic plan was not driving inflation upwards.
The influential White House aide said the US economy’s “very fast” economic growth had beaten her expectations from the start of the year, which she put down to the successful rollout of vaccines across the US.
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“We are leading the world in that effort,” she said, referring to the US’ movement out of the pandemic.
But despite her optimism, Rouse suggested that we were set for a “bumpy recovery” over the coming months.
“In the United States we see evidence of a big economy getting knit back together.”
Rouse actually welcomed inflationary pressures at the lower-end of the wage scale, saying stagnation had been the norm for too long.
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