FACT CHECK: Biden Admin Says Its Stimulus Spending Didn't Spike Inflation

Claim: The Biden administration's $1.9 trillion stimulus package was not the "real cause" of inflation, as prices in the United States did not spike "higher than anyone else."

Who said it: Heather Boushey, an economic adviser to President Joe Biden, during a Monday sit-down with CNBC. Boushey argued that Biden's American Rescue Plan couldn't have been the "real cause" of inflation because prices in the United States did not rise higher than "other countries that did not have the same policies." Instead, Boushey said, the "global pandemic" caused equal inflation in the United States and abroad.

Why it matters: Sky-high inflation meant the average U.S. household in 2022 had to spend an extra $8,600 in typical household expenses, according to an estimate from Joint Economic Committee Republicans. Biden's reelection chances in 2024 will in large part hinge on the president's ability to convince voters that the American economy is nonetheless thriving—or at least that the nation's economic woes are not the administration's fault. Just one in three U.S. adults approve of Biden's handling of the economy, according to an Associated Press poll published in June.