White House: Spending at Start of Biden Presidency Didn’t Cause Inflation, But Dampening Demand Helped Lower It

On Monday’s broadcast of the Fox News Channel’s “Your World,” White House Council of Economic Advisers Chair Jared Bernstein stated that Federal Reserve rate hikes have helped lower inflation by dampening demand and that deficit decreases in 2021 and 2022 “probably helped with some disinflation” but that the spending at the beginning of the Biden administration didn’t help cause inflation.

Bernstein said [relevant remarks begin around 1:55] that the Biden administration’s work on the supply side has helped bring inflation down and that’s why there’s been a decline in inflation while...