For months, the Biden administration has been telling the American people that inflation and rapidly increasing prices on everyday items are "transitory" and temporary.
"The President would say we take the commitment, he takes the commitment of lowering costs for the American people very seriously. We, of course, have seen, and from outside experts, including the Federal Reserve, OECD, and others, that their expectation is that these inflation rises will be transitory, that they will come back down next year," Psaki told reporters in October.
PSAKI: "We can cherry pick different data pieces from a year ago or two years ago, but what we're seeing in the trend is encouraging and is progress being made."— Townhall.com (@townhallcom) October 8, 2021
She goes on to say that "transitory" inflation "will come down next year." pic.twitter.com/jSjZU2bO6d
But according to Federal Reserve Chairman Jerome Powell, who President Biden just nominated for another term, it's time to retire "transitory" from the conversation. In other words, inflation is here to stay and it's going to get worse.
Jerome Powell on inflation: "It's probably a good time to retire" the word "transitory." pic.twitter.com/LQxJpaxdpz— Townhall.com (@townhallcom) November 30, 2021
Inflation was never temporary or transitory, but that didn't stop the Biden administration from claiming it was.
Forget about retirement, it should have never been given a job... https://t.co/BBn6qzVJBh— Carol Roth (@caroljsroth) November 30, 2021
Inflation isn’t transitory.— Pomp ?? (@APompliano) November 30, 2021
It never was.
Nobody who understands economics actually thought it was transitory.
It was all a game.
You can’t create trillions of dollars in liquidity and not have adverse side effects.
Now they’re being forced to admit it.
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