{"id":1431399,"date":"2022-04-11T16:29:35","date_gmt":"2022-04-11T20:29:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1431399"},"modified":"2022-04-11T16:29:39","modified_gmt":"2022-04-11T20:29:39","slug":"white-house-warns-of-extraordinarily-elevated-inflation-blames-putin","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-warns-of-extraordinarily-elevated-inflation-blames-putin\/","title":{"rendered":"White House Warns Of \u2018Extraordinarily Elevated\u2019 Inflation, Blames Putin"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/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%2Fwhite-house-warns-of-extraordinarily-elevated-inflation-blames-putin%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=1431399&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><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/04\/Jen-Psaki.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>White House Press Secretary Jen Psaki warned Americans to expect unusually high inflation numbers when the Consumer Price Index report is released by the U.S. Bureau of Labor and Statistics on Tuesday. Psaki, again, blamed Russian President Vladimir Putin for causing this round of higher prices on everything from gas to groceries due to his ongoing war in Ukraine.<\/p>\n<p>But what the White House has yet to answer is how Putin\u2019s actions in late February 2022 somehow managed to drive up inflation and the cost of gasoline for the entire year prior to his invasion.<\/p>\n<p>\u201cBecause of the actions we\u2019ve taken to address the Putin price hike, we are in a better place than we were last month, but we expect March CPI headline inflation to be extraordinarily elevated due to Putin\u2019s price hike,\u201d Psaki told the White House press pool Monday afternoon.<\/p>\n<p>\u201cWe expect a large difference between core and headline inflation, reflecting the global disruptions in energy and food markets,\u201d she added, noting that core inflation does not include energy and food data while headline data does.\u201d<\/p>\n<p>\u201cI will say that anytime there\u2019s heightened monthly data or inflation reporting or numbers, it is a reminder to us, to our allies on the Hill and hopefully to many of the American people that we need to do more to reduce costs for the American people,\u201d Psaki added<\/p>\n<p>\u201cWe have, of course, legislation that could do exactly that \u2014 cut the cost of childcare, of healthcare, of eldercare,\u201d she claimed.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;We need to do more to reduce costs for the American people.&#8221;<\/p>\n<p>White House Press Secretary Jen Psaki says the White House expects the Consumer Price Index report on inflation for March \u201cto be extraordinarily elevated due to Putin\u2019s price hike.\u201d <a href=\"https:\/\/t.co\/MsImm8189U\">pic.twitter.com\/MsImm8189U<\/a><\/p>\n<p>\u2014 CBS News (@CBSNews) <a href=\"https:\/\/twitter.com\/CBSNews\/status\/1513584050816094217?ref_src=twsrc%5Etfw\">April 11, 2022<\/a><\/p>\n<\/blockquote>\n<p>This is now the second month in a row that the White House has blamed \u201cPutin\u2019s price hike\u201d for high inflation numbers.<\/p>\n<p>In March, former President Barack Obama\u2019s \u201ccar czar\u201d Steven Rattner slammed President Joe Biden in a tweet for blaming February\u2019s inflation numbers on Putin.<\/p>\n<p>\u201cWell, no. These are Feb #\u2019s and only include small Russia effect. This is Biden\u2019s inflation and he needs to own it,\u201d Rattner <a href=\"https:\/\/www.dailywire.com\/news\/biden-now-blames-putin-for-record-setting-inflation-obamas-car-czar-others-say-not-so-fast\">tweeted<\/a>.<\/p>\n<p>In January, before any sanctions were imposed upon Russia, Harvard professor and former Obama economic advisor Lawrence Summers also warned that inflation was a major problem for the nation, The Daily Wire <a href=\"https:\/\/www.dailywire.com\/news\/even-obamas-top-economic-advisor-recognizes-we-have-a-serious-inflation-problem\">reported<\/a>.<\/p>\n<p>\u201cWe have a serious inflation problem whatever the precise CPI reading. Inflation is running well ahead of anything seen during the guns and butter Vietnam episode and 50 percent above where it was when Pres Nixon imposed wage price controls,\u201d Summers tweeted.<\/p>\n<p>In March, Eric Boehm also <a href=\"https:\/\/reason.com\/2022\/03\/15\/bidens-dishonest-attempt-to-pin-inflation-on-putin\/\">pondered<\/a> that fact, questioning in article for Reason how the White House can blame Putin for the nation\u2019s economic woes:<\/p>\n<blockquote>\n<p><em>But if that\u2019s all Putin\u2019s fault, how do you explain the fact that energy prices\u2014and <a href=\"http:\/\/econbrowser.com\/archives\/2022\/03\/oil-prices-and-inflation\">gasoline prices<\/a>, specifically\u2014had been rising faster than just about anything else for much of the past year? In November, the Labor Department\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/archives\/cpi_12102021.htm\">reported<\/a>\u00a0that energy prices were up 33 percent and gasoline prices up 58 percent over the previous year. In August,\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/archives\/cpi_09142021.htm\">those numbers<\/a>\u00a0were 25 percent and 42 percent, respectively. What\u2019s happening here seems to run a lot deeper than the events of the past few weeks.<\/em><\/p>\n<\/blockquote>\n<p>Boehm \u2014 like the <a href=\"https:\/\/www.dailywire.com\/news\/im-sick-of-this-stuff-biden-complains-that-the-american-people-believe-increased-government-spending-causes-inflation\">Hoover Insitute\u2019s John Cochrane<\/a> \u2014 blames government spending during 2020 and 2021 for inflation. He also noted that Summers, as well as Jeremy Siegel of Wharton School of Business, predicted high inflation well before Putin\u2019s military aggression ramped up:<\/p>\n<blockquote>\n<p><em>Finally, this brings us back around to the economists who were warning last year that Biden\u2019s stimulus bill would be a recipe for high inflation. It\u2019s unlikely that Siegel, Summers, and the rest had a crystal ball that could predict Russia\u2019s invasion of Ukraine.<\/em><\/p>\n<p><em>What they were predicting\u2014and, indeed, what we are now seeing\u2014was persistently rising prices due to an excessive amount of money being dumped into the economy. Any attempt by the Biden administration to explain inflation that doesn\u2019t include a hard look at its own policies is simply dishonest.<\/em><\/p>\n<\/blockquote>\n<p>The CPI report is expected to be released Tuesday morning.<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same? <a class=\"in-cell-link\" href=\"https:\/\/www.dailywire.com\/subscribe\" target=\"_blank\" rel=\"noopener\">Become a member now and join our mission.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House Press Secretary Jen Psaki warned Americans to expect unusually high inflation numbers when the Consumer Price Index report is released by the U.S. Bureau of Labor and Statistics<\/p>\n","protected":false},"author":326,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1431399","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\/1431399","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\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1431399"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1431399\/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=1431399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1431399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1431399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}