A majority of Americans think inflation will rise if President Joe Biden goes through with a potential plan to forgive $10,000 in student debt per borrower, according to a new poll.
The CNBC/Momentive survey found that 59% of those surveyed said they are concerned forgiving the debt will make inflation worse.
“Republicans are especially concerned: 81% of Republicans say student loan forgiveness will make inflation worse, nearly double the number of Democrats who say the same (41%),” Momentive said.
Inflation hit the highest level in decades for several consecutive months in the last year before its growth leveled off, at least temporarily, in July.
