White House walks back Biden's false claim about Fed chairs supporting spending plan

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The White House walked back President Biden's false claim about previous chairs of the Federal Reserve backing his $2.3 trillion spending plan.

Last week, Biden told reporters that the past five chairs of the Federal Reserve have come out in support of his American Jobs Plan, the multitrillion-dollar spending proposal that his administration has tried to market as an infrastructure package.

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"What'd they say? They said, 'Biden's plan is going to grow the economy,'" Biden said on Wednesday.

There’s one problem with Biden's assertion, though: two of the five past Federal Reserve chairs – G. William Miller and Paul Volcker – are dead.

In fact, the only one of the three living Federal Reserve chairs that is actively, boisterously promoting the American Jobs Plan as a vehicle for economic growth is current Treasury Secretary Janet Yellen.

Alan Greenspan and Ben Bernanke, the two other living Fed chairs, have been silent or incredibly reserved with their thoughts on Biden’s $2.3 trillion package.

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A White House official said the president mistakenly referred to the Federal Reserve when pointing to a Washington Post op-ed that featured five former Internal Revenue Service (IRS) leaders advocating for Biden’s tax proposal.

However, the former IRS chiefs did not actually comment on how the proposals would impact economic growth.

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Biden has made other false claims about his jobs plan. 

The president significantly misstated estimates on how many jobs the plan would create during a speech Wednesday in Lake Charles, Louisiana. Biden falsely claimed that the spending plan would create up to 16 million new jobs.