CNN host Kate Bolduan cut off White House economic adviser Jared Bernstein as he tried to spin inflation numbers during an interview Thursday.
Bolduan questioned the Biden administration’s strategy for handling inflation, asking, “President Biden on December 10 said that he thought inflation was at its peak. The quote was, ‘I think it’s the peak of the crisis.’ It was not. And I remember very clearly our conversations over the summer when you were talking about inflation being transitory. It was not. Are you being clear-eyed enough about what’s going on here?”
Bernstein responded, saying, “Absolutely. I mean, I think the thing to recognize is that our team, at the insistence of the president, is focused on not just the month-to-month ups and downs, but on the underlying trends.”
Bolduan abruptly interjected, “I’m talking about underlying trends.”
The White House adviser continued, saying, “We’re going to get some months come in better, some months that come in worse. Probably when the president said that, Omicron wasn’t quite in the picture yet.”
“We are reacting to real data, just like we got here today,” Bernstein said. “This data tells us that we have to continue to press on every effort we can to unsnarl supply chains, to get goods through the ports, to get the trucks moving, to make sure that our competition agenda is helping consumers to realize price gains.” Bernstein quickly corrected himself, “to realize price savings.”
Before moving on, Bernstein emphasized President Biden’s commitment to pass legislation that would reduce the cost of education, healthcare and prescription drugs.
Inflation rose to a 40-year high in January, according to a report released by the U.S. Bureau of Labor Statistics showing a 7.5% increase over the past year. (RELATED: US Trade Deficit Reached Record High In 2021 As Imports Surged)
While today is a reminder that Americans’ budgets are being stretched, there are also signs that we will make it through this challenge of higher prices. My Administration will continue to be all hands on deck to win this fight. https://t.co/MtWxIAkCBl
— President Biden (@POTUS) February 10, 2022
President Biden commented on the Bureau’s reports, stating, “While today is a reminder that Americans’ budgets are being stretched, there are also signs that we will make it through this challenge of higher prices.” He added, “My Administration will continue to be all hands on deck to win this fight.