{"id":1559249,"date":"2022-07-18T09:49:33","date_gmt":"2022-07-18T13:49:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1559249"},"modified":"2022-07-18T09:49:35","modified_gmt":"2022-07-18T13:49:35","slug":"white-house-admits-inflation-unacceptably-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-admits-inflation-unacceptably-high\/","title":{"rendered":"White House Admits Inflation \u2018Unacceptably High\u2019"},"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\">12<\/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-admits-inflation-unacceptably-high%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=1559249&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><a href=\"https:\/\/www.theepochtimes.com\/t-white-house\">White House<\/a> economic adviser Jared Bernstein has admitted that <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> in the United States is \u201cunacceptably high\u201d but said he does not see the country heading toward a recession.<\/p>\n<p>Bernstein told \u201cFox News Sunday\u201d on July 17 that factors such as Russia\u2019s invasion of Ukraine and the current energy crisis are behind surging prices but noted that gas prices, while still too high, are \u201cmoving in the right direction,\u201d which he said is \u201cgiving Americans some much-needed breathing room.\u201d<\/p>\n<p>\u201cSo, for example, inflation, which is unacceptably high\u2014let\u2019s get that clear right out of the gate\u2014went up 1.3 percent in June. Again, an unacceptably high increase. Half of that increase is energy prices alone.<\/p>\n<p>\u201cNow, since then the price of gas has come down 50 cents a gallon. There are now 20,000 gas stations across this country where gas is below $4 a gallon.\u201d<\/p>\n<p>The national average for a gallon of regular was $4.521 as of July 16, according to the AAA, down from\u00a0$4.989 a month ago but still up from\u00a0$3.168\u00a0this time a year ago.<\/p>\n<p>Bernstein added that the Biden administration is working on decreasing prices further while downplaying the risk of an economic downturn.<\/p>\n<p>The\u00a012-month Consumer Price Index (CPI) hit\u00a09.1 percent\u00a0in June,\u00a0marking its highest level since November 1981, driven by a surge in the cost of\u00a0rent, food, energy, and medical care.<\/p>\n<p> \u2018Consumer Spending Very Strong\u2019 <\/p>\n<p>However,\u00a0Bernstein pointed to strong consumer spending and jobs gains,\u00a0despite inflation, noting that \u201cpayrolls and consumer spending are actually very strong on the payroll side and strong on the spending side as well.\u201d<\/p>\n<p>He also noted a surge in demand for travel as travel restrictions put in place during the COVID-19 pandemic were lifted, which he said is also \u201ccontributing to strong consumer spending, strong retail sales, job growth, and an unemployment rate of 3.6 percent for<\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House economic adviser Jared Bernstein has admitted that inflation in the United States is \u201cunacceptably high\u201d but said he does not see the country heading toward a recession. Bernstein told \u201cFox News Sunday\u201d on July 17 that factors such as Russia\u2019s invasion of Ukraine and the current energy crisis are behind surging prices but [\u2026]<\/p>\n","protected":false},"author":69,"featured_media":1894390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1559249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1559249","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\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1559249"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1559249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1894390"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1559249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1559249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1559249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}