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Fed Chair: No, ‘Putin’s Price Hike’ Isn’t Primary Driver Behind Biden-Flation

June 23, 2022

“Inflation was high before – certainly before the war in Ukraine broke out,” testified Federal Reserve Chair Jerome Powell before a Senate hearing, dismissing President Biden’s claim that Putin’s unjustified invasion of Ukraine was the primary driver of inflation. Chair Powell also warned that a recession was “certainly a possibility.”

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Despite this, the Biden Administration and congressional Democrats continue to play the blame game for 40-year high inflation, claiming Americans are falling further behind because of “Putin’s Price Hike,” while dismissing the growing consensus among experts that the U.S. is teetering toward a recession.

BOTTOM LINE: President Biden doesn’t have a realistic plan to fight inflation and is in denial about how his policies have made recession inevitable. Democrats are promising to make matters worse with crippling tax hikes and runaway spending.


Accelerating Biden-Flation is Crushing American Families.

  • The typical family now has to spend $450 more per month to buy the same goods and services they did a year ago, prompting more Americans to rely on loans and credit cards to make ends meet, even as the Federal Reserve makes borrowing more expensive.
  • With nearly 70 percent of Americans dipping into their savings, a new report shows that since President Biden took office, 26 million low-income households have had their savings wiped away.
  • Gas prices have more than doubled under President Biden, which means the average American family will spend $5,000 on gas, a 78 percent increase from a year ago.

READ: POLL: As Biden-Flation Accelerates, Majority of Americans Are Bracing for Even Higher Prices Ahead

Democrats Don’t Have a Realistic Plan to Fight Inflation – Are in Denial About Recession Risks.

READ: Build Back Better Won’t Blunt Biden-Flation

READ: Democrats Vow to Make Biden-Flation Worse

Republicans Are Fighting on Behalf of the American People.

READ: One Pager: Steps to Fight Biden-flation