Jean-Pierre says Americans can 'tackle inflation' with Biden's US bailout

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White House press secretary Karine Jean-Pierre on Monday pushed back against claims that the Biden administration is to blame for inflation and said the US bailout is putting Americans in a place where they feel that they could “assume” the price increase.

Jean-Pierre told CNN that Americans need to understand the position President Biden was in when he took office and claimed the US economy is “rebounding”. She added that the administration believes it is in a “good position” to fight inflation.

“We have to remember, when thinking about gas and food prices, that this comes from Putin’s war against Ukraine,” warned Jean-Pierre. “At the time Putin amassed forces on the Ukraine border, we’ve seen since then until now, we’ve seen an increase of $2 per gallon of gasoline.”

Host Don Lemon then stepped in and pressed Jean-Pierre on his claim that the price hike was only attributable to the war.

ECONOMIST MOHAMED EL-ERIAN: MOST CURRENT INFLATION “COULD HAVE BEEN AVOIDED” IF THE FED HAD ACTED EARLIER

White House press secretary Karine Jean-Pierre pauses during her remarks on the Robb Elementary School shooting in Uvalde, Texas, during the daily press briefing at the White House in Washington, USA States, May 26, 2022.
(REUTERS/Jonathan Ernst)

“Economists cite the war in Ukraine and the supply chain issues. We had that before the war, the supply chain issues,” Lemon said. “They also say that last year’s stimulus package, which you mentioned, contributed to inflation, Karine. Is the Biden administration carrying some of that?”

Jean-Pierre touted the importance of the US bailout and said the United States was in a “historically good economic place” where the country could cope with inflation. She also said the country is transitioning to “steady and stable growth”.

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Gasoline prices across the country continue to set records.

Gasoline prices across the country continue to set records.
(AP Photo/Jae C. Hong, File)

“So, first of all, the American bailout has met the moment, and it’s put us in a place where we can actually put ourselves in a place where the American people feel – can actually, we can fight inflation. What I mean by that, we’ve seen growth, okay, with like I mentioned over 8 million jobs. Now we’re moving into steady, stable growth.” , she told Lemon.

Last month, Transportation Secretary Pete Buttigieg declined to say whether the $1.9 trillion US bailout had contributed to inflation. He claimed that economists would “debate” this issue for “decades”.

Buttigieg also said the economy was at “very real risk” of collapsing before the plan was put in place.

BIDEN’S ECONOMIC ADVISER SAYS THE WHITE HOUSE HAS NOT ‘MISSED MUCH AT ALL’ ON INFLATION

White House Press Secretary Karine Jean-Pierre speaks during the daily press briefing at the White House in Washington, Wednesday, May 18, 2022.

White House Press Secretary Karine Jean-Pierre speaks during the daily press briefing at the White House in Washington, Wednesday, May 18, 2022.
(AP Photo/Susan Walsh)

But Steven Rattner, a former adviser to the Treasury secretary in the Obama administration, wrote in The New York Times a month earlier that Biden’s plan “will go down in history as an extraordinary mistake.”

Rattner said lawmakers can’t do much to prevent a recession, but the White House should listen to Sen. Joe Manchin, DW.Va., and “couple new social programs — no matter how meritorious — with an equal measure of deficit reduction”.

Federal Reserve actions to stimulate the economy in response to the COVID-19 pandemic included $120 billion in monthly asset purchases and an interest rate cut. Both of these policies have contributed to inflation, which is at its highest level in four decades.

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Fox News’ Hanna Panreck contributed to this report.

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