{"id":1500516,"date":"2022-06-02T06:59:43","date_gmt":"2022-06-02T10:59:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1500516"},"modified":"2022-06-02T07:00:41","modified_gmt":"2022-06-02T11:00:41","slug":"biden-prices-arent-coming-down-anytime-soon","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-prices-arent-coming-down-anytime-soon\/","title":{"rendered":"Biden: Prices Aren\u2019t Coming Down Anytime Soon"},"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\">14<\/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%2Fbiden-prices-arent-coming-down-anytime-soon%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=1500516&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--><aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>\u200bPresident Biden acknowledged Wednesday that Americans would be feeling the pain from skyrocketing food and gas prices for some time to come Wednesday as consumer costs at the pump hit another new high. <\/p>\n<p>\u201cThe idea we\u2019re going to be able to click a switch, bring down the cost of gasoline is not likely in the near term, nor is it with regard to food\u200b,\u201d\u200b the president told reporters following a  <a href=\"https:\/\/www.youtube.com\/watch?v=c4r9d7Qe6bA\" target=\"_blank\" rel=\"noreferrer noopener\">White House event<\/a> with baby formula manufacturers.<\/p>\n<p>As Biden spoke, the average nationwide price of a gallon of gas stood at $4.67, the highest on record, according to AAA. <\/p>\n<p>The throw-your-hands-up moment from Biden came one day after<a href=\"https:\/\/nypost.com\/2022\/06\/01\/janet-yellen-admits-she-was-wrong-about-inflation\/\"> Treasury Secretary Janet Yellen<\/a> acknowledged that she was wrong about inflation being a \u201ctransitory\u201d problem despite the annual rate hitting highs not seen in 41 years. <\/p>\n<p>\u201cI was wrong then about the path that inflation would take,\u201d Yellen \u200bsaid in an\u00a0interview with\u00a0<a href=\"https:\/\/www.cnn.com\/2022\/05\/31\/politics\/treasury-secretary-janet-yellen-inflation-cnntv\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">CNN\u00a0on Tuesday.<\/a> \u201cAs I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I, at the time, didn\u2019t fully understand, but we recognize that now.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/baby-formula-biden-01.jpg\"><\/a><figcaption>President Joe Biden said that high food and gas prices will remain in the near term after a White House event with baby formula manufacturers. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-02.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/inflation-02.jpg\" alt=\"gas station\" class=\"wp-image-22497206\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-02.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-02.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-02.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Americans are experiencing record-high gas prices. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Yellen\u2019s admission that the administration was caught flat-footed by rising costs led to calls from Republicans for her to resign or be fired.<\/p>\n<p>On Wednesday, Biden insisted that despite his lack of a solution to the problem of inflation, \u201cthere\u2019s more than one way to change, to maintain the standard of living for people in the sense that the overall out\u200b-of\u200b-pocket money needed to be able to make sure that they\u2019re able to get through all their needs on a monthly basis. You can compensate\u200b.<\/p>\n<p>\u201cYou can compensate\u200b, for example, by having drug prices drop significantly, or an impact on childcare,\u201d he added. \u201cThe bottom line is the bottom line, how much it costs you to maintain your household and your standard of living\u200b,\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-wednesday-01.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/biden-wednesday-01.jpg\" alt=\"Biden speaks during a virtual meeting with administration officials and major infant formula manufacturers to urge an increase in infant formula production and ramp up imports of formula through Operation Fly Formula\" class=\"wp-image-22498083\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-wednesday-01.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-wednesday-01.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-wednesday-01.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Biden speaks during a virtual meeting with administration officials and major infant formula manufacturers.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-yellen-tuesday-03.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/biden-yellen-tuesday-03.jpg\" alt=\"Joe Biden Janet Yellen\" class=\"wp-image-22497240\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-yellen-tuesday-03.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-yellen-tuesday-03.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/biden-yellen-tuesday-03.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Treasury Secretary Janet Yellen admits she was wrong about inflation. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>\u200bThe programs Biden cited were part of his $2 trillion Build Back Better plan, which was shot down by centrists in his party late last year over fears it would worsen the inflation crisis. <\/p>\n<p>\u201cWe can\u2019t take immediate action, that I\u2019m aware of yet, to figure out how we bring down the price of gasoline back to $3 a gallon, and we can\u2019t do that immediately with regard to food prices either,\u201d the president reiterated.<\/p>\n<p>\u200b\u201d\u200bBut we can compensate by providing for other necessary costs for families, by bringing those down. That reduces the inflation for that family\u200b.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u200bPresident Biden acknowledged Wednesday that Americans would be feeling the pain from skyrocketing food and gas prices for some time to come Wednesday as consumer costs at the<\/p>\n","protected":false},"author":498,"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-1500516","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\/1500516","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\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1500516"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1500516\/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=1500516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1500516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1500516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}