Bahahahahahahaha! Nice try.
On Tuesday’s broadcast of CNN’s “New Day,” White House Council of Economic Advisers Chair Cecilia Rouse stated that inflation “has been the consequence of mounting an effective response to the pandemic.”
Co-host Brianna Keilar asked, “I wonder, looking back, were Larry Summers and Joe Manchin right about spending and inflation?” Rouse answered, “So, I’m not sure what the right is. What we have here is an economy that’s recovering from a pandemic. The downturn was caused by the pandemic, where we had to basically power down our economy until we had the therapeutics and the vaccinations and the shots in the arms.”
Keilar then cut in to ask, “But they warned that the spending levels, which, of course, I understand the White House and you consider very necessary for the situation that the economy and that the pandemic was in, but that it would cause inflation of maybe a higher level than certain people, including at the White House were expecting. Were they right?”
Rouse said, “So, what we’ve seen is that all advanced countries are trying to address inflation, and they have historic levels of inflation. That has been the consequence of mounting an effective response to the pandemic. Because while we supported households and businesses, got shots into arms, which allowed people to start to come out of their homes and regain their lives, our supply chains could not support that demand. So, this is — we are not alone.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden economic adviser claims inflation is part of the 'effective strategy against the pandemic'White House economic adviser Cecilia Rouse argued on CNN that the record levels of inflation are actually the result of President Biden’s “effective” pandemic strategy.
Read more »
Pandemic darling Peloton's cash-crunch warning pounds sharesPeloton Interactive Inc is 'thinly capitalized', the fitness-equipment maker's chief executive warned on Tuesday, as unsold inventory coupled with mounting costs pushed the once pandemic darling into a big quarterly loss.
Read more »
China medical experts say zero-COVID strategy buys time to vaccinate more peopleChina's tough zero-COVID measures remain essential to defeat the pandemic and buy time to improve vaccination rates and develop new treatments, senior health advisers wrote in recently published reports.
Read more »
Small business sentiment subsides as inflation worries mount, NFIB survey showsSmall businesses confidence hovered near a two-year low in April, with the most owners since 1981 reporting that sky-high inflation was their single most important problem, a survey showed on Tuesday.
Read more »
Bay Area parents of young children still struggle to find childcare amid pandemic, inflationAmid the pandemic and inflation, many Bay Area families with young children are still struggling to find childcare. The lack of available spots, along with the cost, has prompted many working women to quit their jobs.
Read more »
Biden blasted for ‘lying’, ‘gaslighting’ speech blaming inflation on pandemic and PutinIn addition to saying that his administration has made “extraordinary progress” with the economy, President Biden blamed all economic hardship on external factors, namely COVID-19 and Russia.
Read more »