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© Reuters. FILE PHOTO: White Home Council of Financial Advisers Chair Cecilia Rouse joins White Home Press Secretary Jen Psaki (not pictured) for the day by day press briefing on the White Home in Washington, U.S. Might 14, 2021. REUTERS/Jonathan Ernst/File Photograph
WASHINGTON (Reuters) – Russia’s warfare in Ukraine will drive power and meals costs larger, however inflation charges ought to nonetheless ease within the coming yr, U.S. President Joe Biden’s prime financial adviser mentioned on Monday.
Cecilia Rouse, who chairs the White Home Council of Financial Advisers, mentioned the $5.79 trillion price range plan for fiscal yr 2023 launched by the White Home on Monday was primarily based on assumptions locked in on Nov. 10, properly earlier than the invasion, however the financial system was usually stronger than anticipated then.
“There’s super uncertainty, however we and different exterior forecasts anticipate that inflation will ease over the approaching yr,” Rouse instructed reporters because the White Home launched the price range proposal, which should now be thought of and enacted by a deeply divided Congress.
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