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Biden's chief of staff faces fierce backlash for claiming high inflation is no longer a problem

Posted by JJ The Psychotherapist on January 7, 2023 at 12:15 AM



Biden's chief of staff faces fierce backlash for claiming high inflation is no longer a problem


Ron Klain, the White House chief of staff, recently claimed a victory for President Joe Biden on inflation in a tweet. He stated that inflation had decreased to 2% over the last half of 2022 after reaching a rate above 7% earlier in the year.


However, many people on social media disagree with Klain's assessment and have been expressing their frustration over the high prices they are still paying.


Steve Goldstein, the European bureau chief of MarketWatch, questioned why the media was not focusing more on the 3-month annualized number, while others pointed out that prices are still high even if the rate of increase has slowed.


Some people argued that wages have not caught up with the high rates of increase, meaning that the average person is still unable to afford basic necessities.


Popular rap artist Cardi B also posted a rant about high inflation, calling for those in power to do everything they can to bring prices down.

 


Categories: Government, Politics, Finance

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