Biden Claims Inflation Numbers 'Out of Date' Because of Lower Gas Prices the Last Two Weeks
By Rick Moran Jul 15, 2022 3:32 PM ET
This is a good example of a desperate man reaching for a life preserver that turns out to be a shark fin.
Joe Biden is in the Middle East, where the Muslims don’t like him or the country he leads very much at all. No American flags greeted Biden as his motorcade made its way through Jeddah, Saudi Arabia’s capital. Biden spent the better part of his first year in office blasting Saudi Arabia and its leader, Mohammed bin Salman, for his part in the death of a Washington Post writer.
Now, he’s coming to the Saudis on his knees, begging them to increase oil production.
Being overseas, Biden is relieved because he doesn’t have to listen to the constant carping of the media and even his own party about prices. The day after the consumer price index showed a frightening rise of 9.1 percent over the last year, and the producer price index showed a rise of 11.3 percent in wholesale prices, Biden decided to pretend things weren’t so bad.
Bloomberg:
The US saw the largest increase in consumer prices in more than 40 years last month, data showed Wednesday. Biden and his top economic advisers fanned out to say that the “unacceptably high” 9.1% annual inflation rate was “out of date” because it did not reflect the easing of gas prices since mid-June.
Fed officials took it differently. Federal Reserve Bank of Cleveland President Loretta Mester said she had “not seen any convincing evidence that inflation has turned the corner.” And Fed Board member Christopher Waller called the consumer-price index report a “major league disappointment.”
Is Biden really that delusional, or is he just trying to put lipstick on a pig? America is in pain largely because of this man’s policies and he creates his own metric for consumer prices, believing we should only take the last two weeks to figure inflation for the entire month?
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