The White House views inflationary pressures as temporary and is addressing supply crunches to limit price growth, according to one of President Joe Biden's economic advisers.

"We're focused on the economic boom. Now, when it comes to inflation, we're far from sitting on our hands there, either," Jared Bernstein, a member of the White House Council of Economic Advisers, said in a Bloomberg Television interview with Annmarie Hordern on Friday.

The White House is addressing the supply-side issues related to ports, housing, and microchips that have pushed up prices, he said. Officials are meeting representatives of the homebuilding industry Friday as Biden seeks to address a housing-supply shortage that's spurring a record increase in home prices.

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