Biden: 'If We Don't Pass Build Back Better,' We Should Prepare for Rate Hikes, Potential Pain
During an interview aired on Wednesday’s edition of ABC’s “World News Tonight,” President Joe Biden stated that Americans should be prepared for economic pain from Federal Reserve interest rate hikes before things improve, “If we don’t pass Build Back Better,” but if we do, it will reduce inflation.
Host David Muir asked, “The Fed just indicated that they might have to raise interest rates up to three times in the coming year just to slow things down. That sounds like Americans should be prepared for potentially more pain before this gets better.”
Biden answered, “If we don’t pass Build Back Better, I think they’re right. But if we do, 17 Nobel laureates in the economy said it’s going to bring down inflation if we pass what I’m talking about.”
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