Hassett: Excessive spending during the Biden administration is the main cause of the current economic problems and rising inflation in the United States

Hassett, director of the National Economic Committee of the White House, said that the US economy is still digesting the impact of stimulus spending related to the COVID-19 epidemic at the beginning of Biden's administration, which is one of the problems facing the US. Hassett said that the scale of the pandemic stimulus measures during Trump's first term was just right, and the Biden administration subsequently continued to expand spending and allocate funds to other areas. Hassett pointed out that at the end of Trump's last term, the inflation rate in the United States was about 1.5%, and then due to continued pandemic spending and other factors, inflation significantly increased. (Source: CNBC)