{"id":1526840,"date":"2022-06-23T13:34:45","date_gmt":"2022-06-23T17:34:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1526840"},"modified":"2022-06-23T13:34:51","modified_gmt":"2022-06-23T17:34:51","slug":"fed-chair-putin-not-primary-reason-for-high-inflation-then-biden-whines-again-about-putins-price-hike","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-chair-putin-not-primary-reason-for-high-inflation-then-biden-whines-again-about-putins-price-hike\/","title":{"rendered":"Fed Chair: Putin Not Primary Reason For High Inflation. Then Biden Whines Again About \u2018Putin\u2019s Price Hike\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\">34<\/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%2Ffed-chair-putin-not-primary-reason-for-high-inflation-then-biden-whines-again-about-putins-price-hike%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=1526840&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>On the heels of Federal Reserve Chair Jerome Powell admitting Russian President Vladimir Putin\u2019s invasion of Ukraine was not the primary driver of inflation in America, President Biden attempted to shift the blame for inflation on someone else, whining on Twitter again about \u201cPutin\u2019s Price Hike.\u201d<\/p>\n<p>Powell spoke on Wednesday before the Senate Banking Committee, where Sen. Bill Hagerty (R-TN) asked, \u201cWould you say that the war in Ukraine is the primary driver of inflation in America?\u201d<\/p>\n<p>\u201cNo. Inflation was high before, certainly before the war in Ukraine broke out,\u201d Powell replied.<\/p>\n<p>Biden desperately trying to plant culpability for high inflation anywhere but on himself, later tweeted, \u201cI\u2019m doing everything I can to blunt the Putin Price Hike and bring down the cost of gas and food.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">I\u2019m doing everything I can to blunt the Putin Price Hike and bring down the cost of gas and food.<\/p>\n<p>I led the world to coordinate the largest release from global oil reserves in history, and I\u2019m working to get 20 million tons of grain out of Ukraine to help bring down prices.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1539664642963898368?ref_src=twsrc%5Etfw\">June 22, 2022<\/a><\/p>\n<p>Just in case the public missed his initial foray into blame-shifting, he continued, \u201cThe price of gas is up by almost $2 a gallon since Putin accelerated his military build-up, and those high prices pose a challenge for working families.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">The price of gas is up by almost $2 a gallon since Putin accelerated his military build-up, and those high prices pose a challenge for working families.<\/p>\n<p>Today, I&#8217;m calling on Congress to suspend the federal gas tax for three months to provide Americans some much-needed relief.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1539690973046968321?ref_src=twsrc%5Etfw\">June 22, 2022<\/a><\/p>\n<p>Powell pointed out the diference between America\u2019s inflation and other countries\u2019, saying, \u201cIf you look at comparable large, advanced economies like ours, you\u2019ll see inflation rates that are quite similar to ours and some cases higher or some cases lower \u2026 But there are important differences in the characteristics. Ours is more about demand. I would say that for most of the others, theirs is more about energy prices and things like that.\u201d<\/p>\n<p>In April, Biden <a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-blames-putin-for-70-of-the-increase-in-inflation-in-america\">ranted<\/a>, \u201cPutin\u2019s invasion of Ukraine has driven up gas prices and food prices all over the world.\u201d<\/p>\n<p>\u201cUkraine and Russia are the one and two largest wheat producers in the world. We\u2019re three. They\u2019re shut down. We saw that in yesterday\u2019s inflation data,\u201d he said. \u201cWhat people don\u2019t know is that 70% of the increase in inflation was the consequence of Putin\u2019s Price Hike because of the impact on oil prices. Seventy percent.\u201d<\/p>\n<p>As early as March 9, the Biden administration was blaming Putin for inflation; White House communications director Kate Bedingfield tweeted, \u201cFor months Putin has been saber-rattling, and for months gas prices have been going up \u2013 up 75 cents since he began his military build-up. This is the #PutinPriceHike in action \u2026\u201d\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">For months Putin has been saber-rattling, and for months gas prices have been going up \u2013 up 75 cents since he began his military build-up. <\/p>\n<p>This is the <a href=\"https:\/\/twitter.com\/hashtag\/PutinPriceHike?src=hash&#038;ref_src=twsrc%5Etfw\">#PutinPriceHike<\/a> in action, and <a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Etfw\">@POTUS<\/a> is going to use every tool at his disposal to shield Americans from pain at the pump.<\/p>\n<p>\u2014 Kate Bedingfield (@WHCommsDir) <a href=\"https:\/\/twitter.com\/WHCommsDir\/status\/1501606863330332677?ref_src=twsrc%5Etfw\">March 9, 2022<\/a><\/p>\n<p>\u201cThe\u00a0<a href=\"https:\/\/www.dailymail.co.uk\/news\/consumer-price-index\/index.html\">Consumer Price Index<\/a>\u00a0is currently running at 8.6 percent this May over last \u2013 the highest in over 40 years.\u201d <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-10942191\/Powell-tells-senators-rate-hikes-appropriate.html\">The Daily Mail<\/a> pointed out.<\/p>\n<p>\u201cLast week, the Fed\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-takes-most-aggressive-action-to-fight-inflation-in-three-decades\">increased interest rates<\/a>\u00a0by 0.75% \u2014 the largest incremental rate hike since 1994,\u201d <a href=\"https:\/\/dailywire.com\/news\/fed-chair-jerome-powell-says-recession-is-a-possibility-but-remains-strongly-committed-to-killing-inflation\/\">The Daily Wire<\/a> noted. \u201cThe central bank already\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/the-fed-jacks-key-rate-up-half-point-as-inflation-surges\">hiked rates<\/a>\u00a0by 0.5% in May \u2014 the largest such increase since 2000 \u2014 after a 0.25% rate hike from near-zero levels in March. Interest rates are now at 1.5% to 1.75%, with\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/expect-higher-unemployment-as-federal-reserve-tackles-inflation-warns-top-policymaker\">more increases likely<\/a>\u00a0on the way.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the heels of Federal Reserve Chair Jerome Powell admitting Russian President Vladimir Putin\u2019s invasion of Ukraine was not the primary driver of inflation in America, President Biden attempted to shift the blame for inflation on someone else, whining on Twitter again about \u201cPutin\u2019s Price Hike.\u201d Powell spoke on Wednesday before the Senate Banking Committee, &#8230;<\/p>\n","protected":false},"author":60,"featured_media":1526887,"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-1526840","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\/1526840","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\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1526840"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1526840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1526887"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1526840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1526840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1526840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}