As he wrote on his social networks, this step will greatly affect the growth of inflation in the country.
“To pour about half a trillion dollars of gasoline into an already blazing inflationary fire is recklessness ... We are in for painful consequences, including higher tuition fees in the future, even more loans, false hopes for debt relief and much more,” RIA Novosti quotes him.
The day before, Biden announced the cancellation of up to $10,000 of student loan debt for those Americans who earn less than $125,000 a year.