The Biden administration is in panic-mode over soaring inflation now that the midterms are drawing near.
Over the last few days, Joe Biden met with Federal Reserve Chairman Jerome Powell to discuss inflation, penned an op-ed claiming fighting inflation is his “top priority”, and deployed his cabinet officials across the mainstream media airwaves to assure the American public that prices will soon come back down.
But a compilation by the Republican National Committee reveals that the Biden administration over the past 12 months first had no clue inflation was coming, then insisted inflation was “transitory”, and finally blamed inflation on outside factors like the Delta variant and the Russia-Ukraine conflict.
The Biden administration has finally said they “got it wrong” on inflation.
But they weren’t “wrong” — they were LYING. pic.twitter.com/xd8uDqv5yK
— RNC Research (@RNCResearch) June 1, 2022
Biden, his former press secretary Jen Psaki, Treasury Secretary Janet Yellen, and Energy Secretary Jennifer Granholm were all featured in the devastating video.
Not featured in the compilation was Powell, who was in lockstep with the Biden administration’s inflation talking points over the last year, repeatedly claiming the Fed would ensure inflation “doesn’t take root” in the economy.
Biden claimed this week that he would not “interfere” with the Fed’s “independence” in addressing inflation.
Meanwhile, the Fed has been incrementally raising interest rates from 0%, with the private banking cartel announcing a rate of 3-3.5% by December amid a sustained inflation rate of over 8%.
Former Obama economic adviser Steve Rattner admitted Wednesday that Biden and the Fed flooding the economy with monetary stimulus during the COVID lockdowns accelerated inflation.
WATCH Obama economic advisor Steve Rattner criticize ARP:
“We’re all paying the price for having overstimulated this economy during the pandemic.. which created a lot of this inflation. There’s no free lunch here, now we’re all going to have to pay the price” pic.twitter.com/yqlDQFbeQ0
— Jack Pandol (@jackpandol) June 1, 2022
“We’re all paying the price for having overstimulated this economy during the pandemic and putting too much money in people’s pockets which created a lot of this inflation,” Rattner said on MSNBC’s Morning Joe. “There’s no free lunch here, now we’re all going to have to pay the price.”