{"id":1004938,"date":"2021-11-12T20:44:30","date_gmt":"2021-11-13T01:44:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1004938"},"modified":"2021-11-12T20:44:32","modified_gmt":"2021-11-13T01:44:32","slug":"psaki-says-inflation-is-being-used-as-a-political-cudgel","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/psaki-says-inflation-is-being-used-as-a-political-cudgel\/","title":{"rendered":"Psaki Says Inflation Is Being Used As A \u2018Political Cudgel\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpsaki-says-inflation-is-being-used-as-a-political-cudgel%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1004938&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>White House Press Secretary Jen Psaki said that inflation is being utilized as a \u201cpolitical cudgel\u201d and predicted that it will decrease next year.<\/p>\n<p>During a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2021\/11\/12\/press-briefing-by-press-secretary-jen-psaki-november-12-2021\/\">press briefing<\/a> on Friday, Psaki was asked about the administration\u2019s view on rising price levels \u2014 which are now accelerating at a 6.2% year-over-year rate.<\/p>\n<p>\u201cOne in four Americans, according to a new survey, have experienced some kind of loss of income as a result of higher prices,\u201d noted one reporter. \u201cThe president has expressed concern about this. I know that you were working on different fronts\u2026 to address this, but, I mean, how urgent is it? And \u2026 is there any sort of specific concern that this is going to affect not just political outcomes, but just the overall economy?\u201d<\/p>\n<p>\u201cFirst, let me say that, you know, a lot of talk about inflation \u2014 I\u2019m not saying from you, but in general out there\u2026 it\u2019s become a political cudgel and it shouldn\u2019t be,\u201d Psaki responded. \u201cIt\u2019s impacting, as you said, millions of Americans, no matter their political party. And that\u2019s certainly of concern to the president.\u201d<\/p>\n<p>\u201cI would note that everyone from the Federal Reserve to Wall Street agree with our assessment that inflation is already expected to \u2026 substantially decelerate next year. I know you\u2019re not talking about that, but that\u2019s an important component here.\u201d<\/p>\n<p>Days earlier, however, Goldman Sachs released an <a href=\"https:\/\/www.dailywire.com\/news\/goldman-sachs-says-inflation-is-bigger-threat-to-global-economy-than-covid-19\">analysis<\/a> expressing concern that inflation will eclipse new COVID-19 outbreaks as the primary threat to global economic growth. The investment bank forecasted that core Consumer Price Index inflation will remain above 4% next year.<\/p>\n<p>Psaki continued: \u201cAnd economists across the board also agree that the president\u2019s economic agenda \u2014 the Bipartisan Infrastructure Bill that he will sign on Monday and the Build Back Better Bill that we\u2019re working to move forward \u2014 will not add to inflationary \u2026 pressure, and will ease inflationary pressure over the long term.\u201d<\/p>\n<p>On Tuesday, Treasury Secretary Janet Yellen <a href=\"https:\/\/www.dailywire.com\/news\/yellen-touts-biden-spending-plan-then-promises-inflation-wont-reach-1970s-levels\">forwarded<\/a> a similar argument during an interview with <a href=\"https:\/\/www.marketplace.org\/2021\/11\/09\/janet-yellen-on-debt-inflation-infrastructure-and-what-the-economy-needs\/\">Marketplace<\/a> host Kai Ryssdal.<\/p>\n<p>\u201cWell, I think the economy needs it, and the people need it. \u2026 It is really intended to address long-standing problems that have been holding this economy back,\u201d she said about the president\u2019s multitrillion-dollar spending plan. \u201cIt\u2019s meant to boost long-term economic growth and to address inequities.\u201d<\/p>\n<p>After Yellen touted the purported benefits of universal preschool, child tax credits, new health care programs, and climate change abatements, Ryssdal noted the inflationary risks tied<\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House Press Secretary Jen Psaki said that inflation is being utilized as a \u201cpolitical cudgel\u201d and predicted that it will decrease next year.During a press briefing on Friday, Psaki was asked about the administration\u2019s view on rising price levels \u2014 which are now accelerating at a 6.2% year-over-year rate.\u201cOne in four Americans, according to a new survey, have experienced some kind of loss of income as a result of higher prices,\u201d noted one reporter. \u201cThe president has expressed concern about this. I know that you were working on different fronts\u2026 to address this, but, I mean, how urgent is it? And \u2026 is there any sort of specific concern that this is going to affect not just political outcomes, but just the overall economy?\u201d\u201cFirst, let me say that, you know, a lot of talk about inflation \u2014 I\u2019m not saying from you, but in general out there\u2026 it\u2019s become a political cudgel and it shouldn\u2019t be,\u201d Psaki responded. \u201cIt\u2019s impacting, as you said, millions of Americans, no matter their political party. And that\u2019s certainly of concern to the president.\u201d\u201cI would note that everyone from the Federal Reserve to Wall Street agree with our assessment that inflation is already expected to \u2026 substantially decelerate next year. I know you\u2019re not talking about that, but that\u2019s an important component here.\u201dDays earlier, however, Goldman Sachs released an analysis expressing concern that inflation will eclipse new COVID-19 outbreaks as the primary threat to global economic growth. The investment bank forecasted that core Consumer Price Index inflation will remain above 4% next year.Psaki continued: \u201cAnd economists across the board also agree that the president\u2019s economic agenda \u2014 the Bipartisan Infrastructure Bill that he will sign on Monday and the Build Back Better Bill that we\u2019re working to move forward \u2014 will not add to inflationary \u2026 pressure, and will ease inflationary pressure over the long term.\u201dOn Tuesday, Treasury Secretary Janet Yellen forwarded a similar argument during an interview with Marketplace host Kai Ryssdal.\u201cWell, I think the economy needs it, and the people need it. \u2026 It is really intended to address long-standing problems that have been holding this economy back,\u201d she said about the president\u2019s multitrillion-dollar spending plan. \u201cIt\u2019s meant to boost long-term economic growth and to address inequities.\u201dAfter Yellen touted the purported benefits of universal preschool, child tax credits, new health care programs, and climate change abatements, Ryssdal noted the inflationary risks tied to federal spending. \u201cYou say this is not a short-run stimulus program. And I wonder if that\u2019s the basis for your belief that this will not be inflationary in this economy? Because as you know, inflation is a big deal right now.\u201d\u201cWell, inflation has been running at higher levels than we\u2019ve been accustomed to seeing for a long time. And I know that really imposes a burden on households,\u201d Yellen responded before saying that rising price levels are \u201ca consequence of recovery from a very severe shock due to the pandemic and something that will work itself out over time.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1004938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1004938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1004938"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1004938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1004938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1004938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1004938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}