White House economic adviser Cecilia Rouse has defended the limited progress the Biden administration has had on tamping down inflation.
“We’re starting to see signs that the actions they are taking is having an effect,” Rouse said of the Federal Reserve, which she said is focused on bringing down inflation. Rouse pointed to data from last month that employers are posting fewer job openings and the housing market is tapering off during an interview with CNN’s Dana Bash on “State of the Union.” “So we’re starting to see signs that our red-hot economy is starting to cool.
But pushed on when it would start lowering inflation, Rouse said, “Many parts of the bill will start to take effect next year.” Rouse spoke about the energy tax credits in the law as having one of the most immediate tangible impact in lowering costs. “There are tax credits for energy to help people weatherize their homes and also bring down other forms of energy costs.
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