Will the Biden Administration do anything to stop soaring price increases?
SAN DIEGO (KUSI) – Consumer prices in the United States continue to rise, and Democrats only answer is to push for more spending and downplay the harm increased prices are bringing to Americans.
The term officials in the Biden Administration are using to describe the inflation problem is “transitory,” but critics are quick to point out this isn’t a transitory issue. Transitory means “not permanent.”
The Biden Administration claims inflation only increased about 6%, but price increases on products and from various businesses are closer to 30%, which lead many to believe is closer to the real inflation rate.
KUSI Financial Contributor Sully Sullivan explained the problem behind rising prices across the United States on KUSI’s Good Morning San Diego.
Sullivan explained inflation is here to stay through 2022, and the number one job of the federal government is “to keep inflation low.” Sullivan added that Federal Reserve Chairman Jerome Powell recently came out and said we need to stop using “transitory” to describe inflation.