President Biden’s top economic adviser on Thursday sought to ease lawmakers’ concerns about elevated inflation, saying that several factors in the coming months should help slow a steep rise in consumer prices over the last year.
“We expect inflation to moderate over the coming year, because we believe that the factors that have been causing high inflation will begin to ease as Covid cases gradually decrease,” Cecilia Rouse, chair of the White House Council of Economic Advisers, said during a Senate Banking Committee hearing.
