{"id":591210,"date":"2021-07-14T15:50:59","date_gmt":"2021-07-14T19:50:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=591210"},"modified":"2021-07-14T15:51:04","modified_gmt":"2021-07-14T19:51:04","slug":"watch-joni-ernst-slams-bidenomics-for-rising-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-joni-ernst-slams-bidenomics-for-rising-inflation\/","title":{"rendered":"WATCH: Joni Ernst Slams \u2018Bidenomics\u2019 For Rising Inflation"},"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\">16<\/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%2Fwatch-joni-ernst-slams-bidenomics-for-rising-inflation%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=591210&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:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1217471290-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Sen. Joni Ernst (R-IA) delivered a speech on the Senate floor to demonstrate that inflation is \u201cspinning out of control.\u201d<\/span><\/p>\n<p><span>Ernst brought a large wheel mimicking those seen on \u201cThe Price Is Right\u201d \u2014 a television game show in which contestants guess the price of various items. Ernst used the prop to demonstrate that prices for consumer goods have risen substantially in recent months.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"4.2522522522523\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/SenJoniErnst?ref_src=twsrc%5Etfw\">@SenJoniErnst<\/a>: &#8220;Let&#8217;s go ahead and give it a spin.&#8221; <a href=\"https:\/\/t.co\/cGPF0PImR9\">pic.twitter.com\/cGPF0PImR9<\/a><\/p>\n<p>\u2014 CSPAN (@cspan) <a href=\"https:\/\/twitter.com\/cspan\/status\/1415377736911233027?ref_src=twsrc%5Etfw\">July 14, 2021<\/a><\/p>\n<\/blockquote>\n<p><span>\u201cBidenomics has resulted in the biggest surge in inflation in nearly thirteen years,\u201d commented the lawmaker. \u201cFor Iowans who are living on a budget, these unpredictable price markups are making every purchase a real guessing game. They keep asking themselves if \u2018The Price Is Right.\u2019\u201d<\/span><\/p>\n<p><span>To demonstrate the extent to which costs are \u201cspinning out of control,\u201d Ernst rotated the wheel to indicate that the price for bacon rose by 8%, the price for clothes by 5%, and the price for auto insurance by 11%.<\/span><\/p>\n<p><span>\u201cThere\u2019s no winning numbers on this wheel,\u201d Ernst said. \u201cNo matter how you spin it, we simply cannot afford any more Bidenomics.\u201d<\/span><\/p>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/inflation-rises-again-hits-5-4\"><span>The Daily Wire<\/span><\/a><span> reported on Tuesday, data from the Department of Labor show that the Consumer Price Index rose by 0.9% since May in the highest monthly increase since 2008. The year-over-year inflation rate rose to 5.4%, while core inflation \u2014 which factors out food and energy costs \u2014 rose to 4.5%.<\/span><\/p>\n<p><span>On Wednesday, however, Federal Reserve Chair Jerome Powell <\/span><a href=\"https:\/\/www.dailywire.com\/news\/after-another-record-inflation-report-the-fed-will-not-taper-monetary-policy\"><span>informed<\/span><\/a><span> Congress that the Federal Open Market Committee will neither reconsider its near-zero federal funds rate target nor taper its $120 billion monthly bond purchases \u2014 both of which increase the money supply:<\/span><\/p>\n<blockquote readability=\"17\">\n<p><i><span>At our June meeting, the FOMC kept the federal funds rate near zero and maintained the pace of our asset purchases. These measures, along with our strong guidance on interest rates and on our balance sheet, will ensure that monetary policy will continue to deliver powerful support to the economy until the recovery is complete.<\/span><\/i><\/p>\n<p><i><span>In addition, we are continuing to increase our holdings of Treasury securities and agency mortgage\u2011backed securities at least at their current pace until substantial further progress has been made toward our maximum-employment and price-stability goals. These purchases have materially eased financial conditions and are providing substantial support to the economy.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>In addition to Ernst, other Republican lawmakers are pointing to Democrats\u2019 aggressive federal spending as a cause for rising price levels.&nbsp;<\/span><\/p>\n<p><span>On Tuesday, Senate Minority Leader Mitch McConnell (R-KY) <\/span><a href=\"https:\/\/www.dailywire.com\/news\/watch-mcconnell-blasts-democrats-bernie-sanders-for-record-inflation\"><span>pointed<\/span><\/a><span> to his colleagues\u2019 attempts to pass $3.5 trillion in federal spending without Republican support: \u201cAnd now they want an even more absurd, even more damaging summer sequel? What Democrats say they want to force through this summer through reconciliation would make our current inflationary mess look like small potatoes.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Joni Ernst (R-IA) delivered a speech on the Senate floor to demonstrate that inflation is \u201cspinning out of control.\u201dErnst brought a large wheel mimicking those seen on \u201cThe Price &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314700,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1217471290-scaled-1.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"WATCH: Joni Ernst Slams \u2018Bidenomics\u2019 For Rising Inflation","footnotes":""},"categories":[],"tags":[],"class_list":["post-591210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1217471290-scaled-1.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"WATCH: Joni Ernst Slams \u2018Bidenomics\u2019 For Rising Inflation","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/591210","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=591210"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/591210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314700"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=591210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=591210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=591210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}