White House press secretary Karine Jean-Pierre offered bizarre answers when pressed about the growing economic crisis.
During Monday’s press briefing, Jean-Pierre was asked by Fox News’ Peter Doocy about the stock market continuing to spiral downward.
“President Biden once bragged about the stock market hitting ‘record after record after record on my watch.’ How about now?” Doocy asked, adding that “all the gains from President Biden’s time in office have been wiped out.”
Instead of addressing the stock market, the press secretary noted “global challenges” and that other countries are experiencing inflation. She then blamed the ongoing war in Europe and the COVID-19 pandemic for domestic problems.
Doocy followed up on his question, asking how President Joe Biden would respond to Americans concerned about their shrinking 401(k) accounts.
Jean-Pierre claimed America has experienced “the strongest job market in American history” before touting the American Rescue Plan for creating a “historic economic boom.”
To which the reporter clapped back: “Didn’t it also lead to historic inflation?”
“No,” she claimed. “That is — that is — that is not — that is not how we’re seeing the American Rescue Plan.”
According to economists at the San Francisco Federal Reserve, however, an analysis in March concluded that Biden’s COVID-19 stimulus is actually driving inflation.
“Since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries,” the study said. “Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021.”
Most recently, Biden claimed that soaring gas prices is transitory toward a greener economy but Treasury Secretary Janet Yellen admitted that the administration’s prediction had been “wrong.”
“I think I was wrong then about the path that inflation would take,” Yellen said. “As I mentioned there have been unanticipated and large shocks to the economy that have boosted energy and food prices and um, supply bottlenecks that have affected our economy badly, that I didn’t, at the time, understand.”
Americans are suffering from financial strain due to the rapid inflation and skyrocketing gas prices, according to Republican National Committee chairwoman Ronna McDaniel.
“Paired with historic inflation and shortages for basic goods like baby formula, the rising cost of gas is the result of Joe Biden and Democrats’ anti-U.S. energy agenda,” McDaniel said. “Unfortunately, Biden only plans to make this crisis worse for families by not doing anything.”
