{"id":1103053,"date":"2021-12-09T15:43:40","date_gmt":"2021-12-09T20:43:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1103053"},"modified":"2021-12-09T15:43:43","modified_gmt":"2021-12-09T20:43:43","slug":"top-white-house-economist-declines-to-get-into-the-prediction-business-when-pressed-on-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-white-house-economist-declines-to-get-into-the-prediction-business-when-pressed-on-inflation\/","title":{"rendered":"Top White House Economist Declines To \u2018Get Into The Prediction Business\u2019 When Pressed On Inflation"},"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\">30<\/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%2Ftop-white-house-economist-declines-to-get-into-the-prediction-business-when-pressed-on-inflation%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=1103053&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--><div><\/div>\n<aside id=\"right1forarticles\">\n<\/aside>\n<div id=\"ob-read-more-selector\" readability=\"45.578725398313\">\n<p>National Economic Council director Brian Deese refused to reveal whether or not he believes that inflation will continue into next year during a Thursday White House press briefing.<\/p>\n<p>Federal Reserve chairman Jerome Powell <a href=\"https:\/\/www.youtube.com\/watch?v=MhAeUHLJoKk\">testified<\/a> to the Senate Banking Committee on Nov. 30 that he believes economists should \u201cretire\u201d the word transitory due to its lack of clarity, adding that economists \u201cmean that it won\u2019t leave a permanent mark in the form of higher inflation\u201d when they say transitory. Powell <a href=\"https:\/\/www.newsweek.com\/federal-reserve-cant-sure-inflation-will-ease-2022-prices-higher-expected-1655099\">added<\/a> that inflation was \u201cmore persistent and higher than we\u2019ve expected,\u201d and that he could not make a prediction about whether it will subside in 2022. <a href=\"https:\/\/dailycaller.com\/2021\/11\/30\/jerome-powell-senate-banking-committee-testimony-federal-reserve\/\"><strong>(RELATED: Powell Says Omicron Variant Will Prolong Inflation Worries And Supply Chain Issues)<\/strong><\/a><\/p>\n<p>However, when asked by NBC News\u2019 Kristen Welker whether or not he believes that high prices will continue into the next year, Deese refused to answer.<\/p>\n<p>\u201cI am not going to get into the prediction business,\u201d Deese responded, \u201cother than to say and echo what I said at the beginning. Most outside independent forecasters continue to see price increases moderating, and moderating meaningfully, over the course of next year.\u201d<\/p>\n<p><strong>WATCH:<\/strong><\/p>\n<p>Deese did acknowledge that Americans are seeing higher prices, blaming supply chain issues that he described as \u201cglobal.\u201d Inflation <a href=\"https:\/\/dailycaller.com\/2021\/11\/10\/inflation-consumer-price-index-bureau-labor-statistics\/\">reached<\/a> a 30-year high in October, the most recent month for which the U.S. Bureau of Labor Statistics has released data. Deese, President Joe Biden, and senior advisor Cedric Richmond met with business leaders in late November to address shortages and supply chain issues.<\/p>\n<p>\u201cWe need to do everything we can to address\u201d raised prices, Deese added.<\/p>\n<p>The Biden administration has long <a href=\"https:\/\/dailycaller.com\/2021\/07\/15\/white-house-jen-psaki-inflation-temporary-jp-morgan\/\">argued<\/a> that price increases will subside in 2022, although they have received criticism from fellow <a href=\"https:\/\/dailycaller.com\/2021\/11\/10\/joe-manchin-democrat-chuck-schumer-inflation\/\">Democrats<\/a>, including former Treasury Secretary Larry Summers. Summers has <a href=\"https:\/\/dailycaller.com\/2021\/11\/15\/top-obama-economist-larry-summers-comes-out-swinging-against-biden-admin-over-inflation-surge\/\">blamed<\/a> the Federal Reserve\u2019s loose money, which Powell instituted to keep unemployment low during the COVID-19 pandemic. The Federal Reserve has since <a href=\"https:\/\/dailycaller.com\/2021\/11\/03\/fed-scales-back-bond-purchases-inflation-rises\/\">slowed<\/a> bond purchases, and is <a href=\"https:\/\/dailycaller.com\/2021\/12\/06\/jerome-powell-federal-reserve-bond-purchase-tapering-inflation-interest-rate-hikes\/\">expected<\/a> to end pandemic stimulus entirely by March 2022.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>National Economic Council director Brian Deese refused to reveal whether or not he believes that inflation will continue into next year during a Thursday White House press briefing.Federal &#8230;<\/p>\n","protected":false},"author":67,"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-1103053","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\/1103053","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\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1103053"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1103053\/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=1103053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1103053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1103053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}