White House says canceling student loans wouldn’t drive up inflation much

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Published: May 31, 2022, 19:23 GMT+00:00

WASHINGTON (Reuters) - The short-term impact on inflation of a possible decision by U.S. President Joe Biden to cancel some student loans is likely to be small, a top aide said on Tuesday.

Press briefing at the White House in Washington

WASHINGTON (Reuters) – The short-term impact on inflation of a possible decision by U.S. President Joe Biden to cancel some student loans is likely to be small, a top aide said on Tuesday.

White House National Economic Council director Brian Deese said during a press briefing that Biden has not made a final decision on student loan debt relief. Biden has been considering plans to cancel some $10,000 in federal student loan debt per borrower.

(Reporting by Jeff Mason and Trevor Hunnicutt; Editing by Leslie Adler)

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