{"id":1560916,"date":"2022-07-19T11:04:48","date_gmt":"2022-07-19T15:04:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1560916"},"modified":"2022-07-19T11:04:54","modified_gmt":"2022-07-19T15:04:54","slug":"white-house-touts-slight-decline-in-gas-prices-denies-possible-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-touts-slight-decline-in-gas-prices-denies-possible-recession\/","title":{"rendered":"White House touts slight decline in gas prices, denies possible recession"},"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\">22<\/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-touts-slight-decline-in-gas-prices-denies-possible-recession%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=1560916&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 id=\"attachment_2728049\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2728049\" class=\"size-full wp-image-2728049\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22199716371558.jpg\" alt=\"Council of Economic Advisers member Jared Bernstein speaks at a press briefing at the White House in Washington, Monday, July 18, 2022. (AP Photo\/Andrew Harnik)\" width=\"1024\" height=\"683\" \/><\/p>\n<p id=\"caption-attachment-2728049\" class=\"wp-caption-text\">Council of Economic Advisers member Jared Bernstein speaks at a press briefing at the White House in Washington, Monday, July 18, 2022. (AP Photo\/Andrew Harnik)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 7:39 AM PT \u2013 Tuesday, July 19, 2022<\/h5>\n<p>President Joe Biden\u2019s economy czar, Jared Bernstein, appeared to admit inflation wasn\u2019t transitory, while still asking the country to trust its policies moving forward.\u00a0On Monday, Bernstein held a press conference to showcase the 34th day of declining fuel costs. He touted the price of gas has dropped 50 cents per gallon since its June peak and reassured the public the trend should continue so long as circumstances remain favorable.<\/p>\n<blockquote>\n<p><strong>\u201cWe think it\u2019s reasonable to expect more gas stations to lower their prices in response to lower input costs and thus, barring unforeseen market disruptions to see average prices fall below $4 per gallon in more places in coming weeks,\u201d stated the economic adviser.<\/strong><\/p>\n<\/blockquote>\n<p>However, the press raised concerns about Bernstein\u2019s forecast as officials have promised inflation was transitory, only for rates to continue hovering at 40-year highs. The adviser downplayed such worries, trumpeting a number of factors to bolster his claim that the Biden economy is robust.<\/p>\n<blockquote>\n<p><strong>\u201cSo I think if you look at the strength of the current economy, if you look at the strength of the labor market, if you look at the strength of consumer spending, you would conclude that where we are right now remains solidly within expansion,\u201d he claimed. \u201cI think we can confidently say that these numbers that we\u2019re posting are very much inconsistent with a recessionary call given where we are right now.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>However, members of the press refused to relent pointing to Biden\u2019s refusal to take credit for any of the economic woes that have taken place during his presidency. Bernstein shot back by disagreeing with their assessment and praising Biden\u2019s policies.<\/p>\n<blockquote>\n<p><strong>\u201cI think what\u2019s happening here is a President who is working tirelessly to address the largest constraint, probably the toughest constraint facing American households right now: the the budgetary impacts of these elevated prices,\u201d stated the economy czar. \u201cAnd we\u2019re showing you here today some real results.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>The price of gasoline remains more than $2 higher per gallon than when Biden first took office. Although the President has often blamed Russia for the pain at the pump, prices had already risen a dollar per gallon prior to the invasion of Ukraine.<\/p>\n<p>A March study by the San Francisco Federal Reserve Bank found found half of the inflation rate in quarter four of last year had been triggered by bloated pandemic spending packages. Nonetheless, the Biden administration seems to be telling Americans to be grateful for a slight decline in gas prices as the population continues to feel pain in their pockets.<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/ice-paid-nearly-17m-to-house-migrants-in-hotels\/\">ICE Paid Nearly $17M To House Migrants In Hotels<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Council of Economic Advisers member Jared Bernstein speaks at a press briefing at the White House in Washington, Monday, July 18, 2022. (AP Photo\/Andrew Harnik) OAN NEWSROOMUPDATED 7:39 AM PT \u2013 Tuesday, July 19, 2022 President Joe Biden\u2019s economy czar, Jared Bernstein, appeared to admit inflation wasn\u2019t transitory, while still asking the country to trust &hellip;<\/p>\n","protected":false},"author":79,"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-1560916","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\/1560916","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1560916"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1560916\/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=1560916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1560916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1560916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}