On Wednesday's broadcast of CNBC's "Squawk on the Street," White House National Economic Council Deputy Director Bharat Ramamurti reacted to President Joe Biden's comments on the Inflation Reduction Act that he wishes he "hadn’t called it that, because it has less to do with reducing inflation than it does to do with dealing with providing for alternatives that generate economic growth" by stating that the bill does many things and "you're restricted to maybe having a few words when you name your piece of legislation."