Economics
Biden Economy Chief Sees Jobs as More Urgent Risk Than Inflation
- Deese says labor-market scarring risk warrants big relief plan
- White House economic adviser defends size of Biden’s package
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Inflation is a risk that bears watching, though the bigger danger now is longer-term damage to the labor market, the White House’s chief economic adviser said in addressing criticism of President Joe Biden’s $1.9 trillion aid plan.
“We take very seriously the economic risks that are out there, we spend a lot of time thinking about them, a lot of time worrying about them,” Brian Deese, director of the White House National Economic Council, said in a Bloomberg Television interview Monday. Inflation is “a risk that we’re keeping our eye on and it’s something to consider,” he said.