OPINION | This article contains political commentary which reflects the author's opinion.
Word has been spreading lately that the inflation spike we’re all experiencing will continue for the unforeseeable future, to which the White House denies and says that it should be gone by 2022, according to White House press secretary Jen Psaki.
The Biden Administration, or The Great Divide, strikes yet again.
Sooo does this mean we should be expecting another evil, such as wage and price control? I don’t trust a damn thing this administration does or says.
The Daily Caller reported:
“What is the White House’s message to average Americans, including those who are on limited income though who are experiencing higher prices right now for food and clothing and other goods and services? You mentioned it’s expected to die down next year, but what is your message to them in the meantime, is it simply just to wait it out?” a reporter asked Psaki.
“That’s certainly not what I’ve ever said,” Psaki responded. “Our message is that we understand the threat that inflation poses. We will be vigilant about any responses needed. It’s important for Americans to know and understand that these impacts are temporary, and some of these price increases are a result of the economy turning back on.”
Inflation spiked 5.4 percent over the 12-month period ending in June, which marks the most dramatic increase since 2008, according to the Department of Labor.
“We’re in a transitional phase right now,” Joel Naroff, the chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”
You can catch this dialogue right around 1:33:00 –