According to CoinMeta, as reported by CNBC, Heather Hassett, Director of the White House National Economic Council, stated that the U.S. economy is still dealing with the effects of stimulus spending related to the COVID-19 pandemic during the early tenure of former President Biden, calling it one of the current issues facing the country. In an interview on Tuesday, Hassett said that the scale of pandemic stimulus measures during Trump's first term was "just right," with the goal of filling economic gaps, while the Biden administration subsequently continued to expand spending, directing funds towards other areas. She noted that the U.S. is still working to overcome the impacts of these additional expenditures. Hassett mentioned that at the end of Trump's first term, the inflation rate in the U.S. was around 1.5%, but it subsequently rose significantly due to ongoing pandemic-related spending and other factors. In March 2021, the Biden administration signed the $1.9 trillion American Rescue Plan, which some economists believe exacerbated inflation in the U.S., although there is still debate about the extent of its impact. Data shows that the U.S. inflation rate approached 9% in the summer of 2022 before gradually declining thereafter.