Biden has said so twice now, but in reality, inflation stood at just 1.4 % in January 2021. It did attain 9 % — , in June 2022, when he’d been in business for nearly 18 months. Press secretary Karine Jean-Pierre addressed larger troops in the economy when a writer brought up the gap.
She said,” The place he was making is that the factors that caused inflation were in place when he walked into the management.” ” The pandemic caused prices around the world by destroying our economy and destroying our provide bars,” said one expert.
The reporter had questioned whether Biden had been deceiving the public on purpose or whether he had simply forgotten that inflation was at 1.4 % when he first took office.
” Reopening after the pandemic inevitably increased prices by unleashing bottled- up demand”, Jean- Pierre continued. ” Annualized core CPI]consumer price index ] in the second term of 2021 was 9 %. He was referring to the circumstances that had caused that, as well.
Since starting to rise in the flower of his first year in business, inflation has plagued Biden. It surged to 5 % by May 2021 and peaked at 9.1 % in June 2022 before falling steadily over the last year. But it remains elevated today at 3.4 %, well above the Federal Reserve’s 2 % target.
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Biden first made the 9 % claim in an interview with CNN, saying,” No president’s had the run we’ve had in terms of creating jobs and bringing down inflation. It was 9 % when I came to office, 9 %”. He then repeated a version of it to Yahoo Finance, claiming,” It was at 9 % when I came in, and it’s now down around 3 %”.
Republicans were glad to point out the error, with former President Donald Trump saying,” Biden’s rate excursions are killing the American dream”.
