After insisting for months on end that inflation is temporary, President Biden on Friday night privately admitted to donors that inflation is going to be elevated for some time before coming down.
“We’re gonna live with this inflation for a while,” Biden told supporters at a swanky private fundraiser in Beverly Hills, California. “It’s gonna come down gradually, but we’re going to live with it for a while.”
The fundraiser at which Biden made the comments was hosted by billionaire Democratic donor Haim Saban.
Just hours earlier, Biden publicly addressed inflation during a visit to the port of Los Angeles, striking a more positive tone in a message to Americans.
“Inflation outside of energy and food, what the economists call core inflation, moderated the last two months,” Biden said. “Not enough, but it moderated. It’s come down, and we need it to come down much more quickly.”
Biden also attacked oil and shipping companies are to blame for making it so expensive to move goods, and blamed Russian President Vladimir Putin for the rise in food and gas prices.
“I understand Americans are anxious, and they’re anxious for good reason,” he said. “We have never seen anything like Putin’s tax on both food and gas.”
(YWN World Headquarters – NYC)