Biden’s Own Fed Chair Throws Him Under the Bus

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As I am sure you have heard, none of this inflation stuff is Democratic President Joe Biden’s fault. And if he is to be believed, he is doing everything he can to make it go away.

And, of course, he has a whole White House full of staff with similar comments and statements supposedly proving such.

On Thursday, The Washington Free Beacon shared a video filled with no small number of prominent Democrats placing the blame for inflation and the ever-rising gas prices on Russian President Vladimir Putin.

Their thought process, of course, is that if Putin had not invaded their smaller neighbor, Ukraine, the US and other nations would not have been forced to put sanctions and the like on Russia and both their imports and exports, one of which happens to be oil that much of the world has become reliant on.

But since Russia did invade, nations like the US that have gotten much-needed supplies and energy resources from the Red Nation have been forced to up their prices…

The only problem with this line of thinking is, well, the facts.

And that at the end of this video, one very well-sourced and in-the-know Biden admin member admits the truth.

Near the end, we see a clip taken from a Senate Banking Committee hearing that took place on Wednesday. Republican Senator Bill Hagerty of Tennessee asked US Federal Reserve Chair Jerome Powell if “the war in Ukraine is the primary driver of inflation in America?”

Powell’s answer, without hesitation, was a resounding “no.”

He said, “No, inflation was high before, certainly before the war in Ukraine broke out.”

And just like that, Biden is found guilty of lying again.

But let’s look a little closer at why Powell might admit that. For starters, all the facts prove it.

According to the Examiner, inflation sat at around 1.4 percent when Trump left the White House and Bidden assumed his role as president in January 2021. But, just a year later, in February 2022, and by the time Russia had invaded Ukraine, inflation had risen to a whopping 7.9 percent – the highest our nation had seen in 40 years.

Now, that number is even higher, of course.

Similar facts can be stated about the rise of gas and oil prices in the US.

Fox Business notes that when Trump left office, gas was around $2.39 for a gallon of regular unleaded. It officially doubled by June 4 of this year, reaching $4.81. Again, going back to the day Russia invaded Ukraine, February 24, 2022, AAA reported the average price of gas being $3.54 a gallon. Clearly, this means that gas was already well on the rise in the US and without Russia’s help.

AAA reports that as of June 14, gas peaked at $5.02 a gallon. On Sunday, it was down just a bit, with a national average of $4.90, which is still more than double what it was before Biden took office.

What all this means is that Biden and his friends can spout off at the mouth all they want about how everyone else in the world but them is to blame for the problems they’ve made. But the fact of the matter is that they are wrong and clearly lying.

Sure, some of the rise since the Russia/Ukraine war began may be affected by it. But as these numbers quite clearly show, Biden and his cohorts did a pretty good job of starting the process themselves.

Perhaps if Biden hadn’t banned federal and now private leases on oil and gas production, maybe if he hadn’t canceled several Trump-approved projects that would have supplied America with not only oil to process but tens of thousands of jobs. Perhaps if he hadn’t kept masks, vaccines, and lockdowns mandated for so long…

And the list goes on and on.

Each and every one of these decisions has led us to where we are now. And all of them can be laid squarely at the feet of Joe Biden, not Vladimir Putin.

And the fact that one of Biden’s own is willing to admit it doesn’t bode well for him or his party’s future.