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Biden Dismisses Inflation Worries, Warns on Hiring Difficulties

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  • Warns restaurant owner his business may remain ‘in a bind’
  • GOP makes inflation cornerstone of argument against president

WATCH: On Monday Biden said he told Fed Chairman Jerome Powell to take whatever steps it deems necessary to combat inflation.

President Joe Biden dismissed concerns that the U.S. would experience persistent inflation as the economy emerges from the pandemic while cautioning that restaurants and others in the hospitality sector might take longer to recover.

“There will be near-term inflation” because the economy is picking back up, Biden said Wednesday night at a CNN town hall in Cincinnati. But most economists believe that “it’s highly unlikely that it’s going to be long-term inflation that’s going to get out of hand,” he said.