Watch Biden Calling Inflation Temporary in a video from a July 19, 2021

In a video from a July 19, 2021, speech, marked the first six months of his administration by celebrating the nation's economy, which he hailed as experiencing "the fastest growth, I'm told, at this point in any administration's history."

"We also know that as our economy has come roaring back, we've seen some price increases," Biden said. "Some folks have raised worries that this could be a sign of persistent . But that is not our view."

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