{"id":998159,"date":"2021-11-11T10:28:53","date_gmt":"2021-11-11T15:28:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=998159"},"modified":"2021-11-11T10:28:55","modified_gmt":"2021-11-11T15:28:55","slug":"joe-biden-finally-admits-inflation-is-worrisome-three-months-after-dismissing-it-as-temporary","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-finally-admits-inflation-is-worrisome-three-months-after-dismissing-it-as-temporary\/","title":{"rendered":"Joe Biden Finally Admits Inflation Is &#039;Worrisome,&#039; Three Months After Dismissing It as &#039;Temporary&#039;"},"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\">28<\/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%2Fjoe-biden-finally-admits-inflation-is-worrisome-three-months-after-dismissing-it-as-temporary%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=998159&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 class=\"subheading\">President Joe Biden conceded Wednesday that inflation was a problem, three months after dismissing it as temporary.<\/p>\n<p>\u201cEverything from a gallon of gas to loaf of bread costs more,\u201d Biden said during an event promoting his infrastructure bill in Baltimore. \u201cAnd it\u2019s worrisome, even though wages are going up.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The president took a sharply different tone from his comments in July, when he dismissed rising costs and inflation as temporary and nothing to worry about.<\/p>\n<p>\u201cSome folks have raised worries that this could be a sign of persistent inflation. But that\u2019s not our view,\u201d he <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2021\/07\/19\/remarks-by-president-biden-on-the-economy-3\">said<\/a> at the White House on July 19.<\/p>\n<p>\u201cOur experts believe and the data shows that most of the price increases we\u2019ve seen are, were expected and expected to be temporary,\u201d he continued.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In July, the annual inflation rate was 5.4 percent after it hit five percent in May, and 5.4 percent in June. The annual inflation rate was still at 5.3 percent in August and 5.4 percent in September.<\/p>\n<p>All along Biden tried to downplay its impact in the hope it would simply go away:<\/p>\n<p>It didn\u2019t.<\/p>\n<p>In October, the inflation rate <a href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi\">hit<\/a> 6.2 percent, up 0.9 percent from just a month earlier marking it as the highest rate since November 1990.<\/p>\n<p>But Biden tried to argue the rising cost of goods&nbsp;were somehow only proof of how his policies were working.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cBecause of the strength of our economic recovery, American families have been able to buy more products,\u201d he said.<\/p>\n<p>Biden argued Americans had more money than ever thanks to his child tax credit and the one-time $1,400 checks passed in March.<\/p>\n<p>\u201cBut what happens if there\u2019s nothing to buy and you got more money?\u201d Biden asked. \u201cYou compete for getting it there. It creates a real problem.\u201d<\/p>\n<p>Biden tried to reassure Americans that he had spoken to CEOs of some of the largest companies in America who told him that things were going to be ok.<\/p>\n<div id=\"attachment_18172066\" class=\"wp-caption alignnone\" readability=\"37\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1322907001.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18172066\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1322907001.jpg\" alt=\"CHICAGO, ILLINOIS - JUNE 10: Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Inflation rose 5% in the 12-month period ending in May, the biggest jump since August 2008. Food prices rose 2.2 percent for the same period. (Photo by Scott Olson\/Getty Images)\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Inflation rose 5% in the 12-month period ending in May, the biggest jump since August 2008. Food prices rose 2.2 percent for the same period. (Scott Olson\/Getty Images)<\/em><\/p>\n<\/div>\n<p>Bu\u021b corporate executives are privately warning the president and his administration that they are still not taking the issue seriously.<\/p>\n<p>\u201cI don\u2019t think the administration is on top of it at all,\u201d a CEO of one of the U.S.\u2019s largest companies <a href=\"https:\/\/www.politico.com\/news\/2021\/11\/10\/soaring-inflation-stalks-bidens-economy-520613?nname=playbook&amp;nid=0000014f-1646-d88f-a1cf-5f46b7bd0000&amp;nrid=0000014e-f103-dd93-ad7f-f9073ad50000&amp;nlid=630318\">told<\/a> Politico on condition of anonymity. \u201cHow many people inside this White House really know what inflation is or how it impacts businesses? It\u2019s not really their fault. It\u2019s been so long since we really had it.\u201d<\/p>\n<p>Biden also faces dissent from his own party, as Sen. Joe Manchin (D-WV) pointedly noted that the inflation Americans were experiencing obviously not temporary.<\/p>\n<p>\u201cBy all accounts, the threat posed by record inflation to the American people is not \u2018transitory\u2019 and is instead getting worse,\u201d he said in a statement. \u201cFrom the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"11.405247813411\">\n<p lang=\"en\" dir=\"ltr\">By all accounts, the threat posed by record inflation to the American people is not \u201ctransitory\u201d and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.<\/p>\n<p>\u2014 Senator Joe Manchin (@Sen_JoeManchin) <a href=\"https:\/\/twitter.com\/Sen_JoeManchin\/status\/1458443966135902221?ref_src=twsrc%5Etfw\">November 10, 2021<\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden conceded Wednesday that inflation was a problem, three months after dismissing it as temporary. \u201cEverything from a gallon of gas to loaf of bread costs more,\u201d Biden &#8230;<\/p>\n","protected":false},"author":24,"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-998159","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\/998159","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=998159"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/998159\/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=998159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=998159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=998159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}