NEW: Producer prices spiked 10.8% from last year, remaining close to the highest levels on record.
What does that mean for you? As reported by CNBC, Bidenflation is nowhere close to getting under control. In fact, as CNBC’s Steve Liesman noted, today’s report shows we still have “a big [inflation] problem up the pipeline.” A fact made more concerning after consumer price hikes recently indicated inflation is accelerating.
It’s part of what makes the Biden White House’s response to inflation so delusional – it would be laughable if it was not so pathetic. They actually think his policies have put this country in a position to fight inflation (Economists don’t agree).
Karine Jean-Pierre says Biden's $2 trillion stimulus "has put us in a place where we can actually, uh, put us in a place where the American people feel, can, can — can actually — we can take on inflation."
— RNC Research (@RNCResearch) June 14, 2022
Then she says we're in "a good historic economic place." pic.twitter.com/37rL39LjwD
The reality: Biden has only put us in position to fight inflation by creating it in the first place. And for that, the credit is all his.
