Sumary of Biden dismisses inflation concerns even as consumer prices surge:
- Maglan Capital President David Tawil on his outlook for inflation, oil and cryptocurrencies.
- President Biden on Wednesday again downplayed concerns about the recent burst of inflation, maintaining that surging consumers prices are temporary even as he cautioned that restaurants and other businesses in the hospitality sector could take longer to recover from the pandemic.
- ” REPUBLICANS EXCORIATE DEMOCRATS’ $3.5T SPENDING PLAN AS ‘RECKLESS’ AMID SURGING INFLATION Still, the president acknowledged that businesses in the hospitality and tourism sector may be “in a bind for a while,” amid a labor shortage that’s seen workers gain more negotiating power for better wages and working conditions.
- “If we make prudent, multiyear investments in better roads, bridges, transit systems and high-speed internet, a modern resilient electric grid, here’s what will happen: It breaks up the bottlenecks in our economy,” he said Monday.