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President Biden on Monday said Russian President Vladimir Putin and the COVID-19 pandemic are to blame for record-high inflation in the United States and maintained that rising prices have “nothing to do” with his administration’s policies.
The president spoke Monday at the National League of Cities Congressional Cities Conference and addressed the increase in U.S. gas prices, as well as every day household items.
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“We know that families are still struggling with higher prices,” Biden said. “Let’s be absolutely clear about why prices are high now or high for two reasons.”
The first, Biden said, is due to “the way the global economy works.”
(Chip Somodevilla/Mikhail Svetlov/Getty Images)
“A factory in Taiwan that makes computer chips shuts down to a COVID outbreak. It causes a ripple effect to slow down auto-manufacturing,” Biden said. “So, because of the pandemic, we had significant disruption disruptions in the supply chain, and our supply chain is so important with so many materials that come from other places.”
“And now, a second big reason for inflation is Vladimir Putin,” Biden said.
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“We’ve seen the price of gas go up over a dollar just since he put his troops on the border on the border of Ukraine — they went up a dollar and five cents,” Biden said.
Russian President Vladimir Putin has signed into law legislation that could punish journalists with up to 15 years in prison for reporting so-called “fake” news about his military invasion of Ukraine.
(Yuri Kochetkov/Pool)
“Big part of that reason is Putin began amassing troops along the border and then crossed. And guess what? The world took notice,” Biden said. “The market anticipated, prices went up, and then Putin invaded.”
He added: “Make no mistake, the current spike in gas prices is…
Source : foxnews
