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

WASHINGTON – 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)