Biden Humiliated by His Own Fed Chairman
Federal Reserve Board Chairman Jerome Powell humiliated Joe Biden on Wednesday after he debunked the 79-year-old politician’s false claim that higher gas prices are due to “Putin’s price hike.”
The Daily Caller reports:
Testifying before the Senate Banking Committee, Powell was asked about the inflation crisis by Republican Tennessee Sen. Bill Hagerty.
“I realize there are a number of factors that play a role in the historic inflation that we’re experiencing: supply chain disruptions, regulations that constrain supply, we’ve got rising inflation expectations and excessive fiscal spending, but the problem hasn’t sprung out of nowhere,” Hagerty said.
“In January of 2021, inflation was at 1.4%. By December of 2021, it had risen to 7% — a fivefold increase.”
“Since the war in Ukraine began in late February, the rate of inflation has risen incrementally another 1.6% to a current level of 8.6%,” he continued. “Given how inflation has escalated over the past 18 months, would you say that the war in Ukraine is the primary driver of inflation in America?”
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