The Biden White House has repeatedly tried to claim rapidly rising inflation on everyday items is "transitory" and a "high class problem."
INFLATION: Jen Psaki says White House economic experts believe inflationary impact will be "temporary, transitory." pic.twitter.com/SbNuByIQzD— Forbes (@Forbes) May 10, 2021
This ???? https://t.co/ymh53nEHAg— Ronald Klain (@WHCOS) October 14, 2021
But as the weeks tick by, the situation keeps getting worse, and inflation is showing no signs of slowing down.
CNBC host Jim Cramer said Wednesday the numbers are "astounding."
CNBC’s Jim Cramer on rising inflation: "It's much worse than we thought." pic.twitter.com/UU43RkCusr— RNC Research (@RNCResearch) October 20, 2021
Tudor Investment Founder Paul Jones is warning inflation is a serious threat to American society.
Paul Tudor Jones: "It's pretty clear to me that inflation is not transitory. It's here to stay. It's probably the single biggest threat...to society" pic.twitter.com/GgAiftEt7B— RNC Research (@RNCResearch) October 20, 2021
During the White House briefing Tuesday, Press Secretary Jen Psaki laughed off concerns. In addition, Biden administration officials continue to argue price increases and the supply chain crash are a result of President Biden's economic policies successfully working.
Transportation Secretary Pete Buttigieg says supply chain disruptions will "continue into next year."— The Recount (@therecount) October 17, 2021
"... demand is up, because income is up, because the president has successfully guided this economy out of the teeth of a terrifying recession." pic.twitter.com/uuFPhZoG8z