(CNN) President Joe Biden on Monday directly addressed concerns that his sweeping economic agenda will serve as an accelerant to inflation amid growing concern about price hikes across the economic spectrum. But that's not our view," Biden said, speaking from the White House. The President said his administration was doing everything it can to address price increases and assured Americans the disruptions were temporary. Still, White House officials acknowledge that while they believe the increases are a short-term issue, it's still one that will likely be present for months, if not longer. It's a key reason for Biden's effort Monday to detail how, in the view of White House economic officials, his agenda would fit into that data if enacted.

Source: CNN July 19, 2021 14:20 UTC