Biden White House adviser stresses that inflation is global phenomenon, highlights 'some welcome deceleration'

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Top White House economic adviser Brian Deese on Wednesday addressed new data that showed inflation at a nearly 40-year high, telling reporters that increasing prices are a “global phenomenon” that’s connected to the COVID-19 pandemic. Deese, director of the National Economic Council, said the unique strength of the U.S. economic recovery makes the nation “well-positioned to attack the challenges of prices and costs head-on.” He also said there has been “some welcome deceleration” in price increases in some areas such as grocery items, but the increases are still too high.

Source: Marketwatch

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