Fed Chair Jerome Powell on Wednesday testified before the Senate Banking, Housing and Urban Affairs Committee on inflation and the US economy.
Powell was asked if the war in Ukraine is the primary driver of inflation in the US.
“Would you say that the war in Ukraine is the primary driver of inflation in America?” Powell was asked on Wednesday.
“No. Inflation was high before, certainly before the war in Ukraine broke out,” Powell said contradicting Joe Biden.
GOP Senator BREAKS Fed Chair Jerome Powell, makes him ADMIT Biden has been spreading MASSIVE LIE about inflation pic.twitter.com/tFuUjwsLnP
— Benny Johnson (@bennyjohnson) June 22, 2022
Joe Biden has repeatedly lied about the driving force of inflation and high gas prices in the US.
Biden blames Russian President Vladimir Putin and tells Americans they are suffering because of “Putin’s price hike.”
It’s all lies.
Gas prices spiked well before Putin invaded Ukraine.
chart courtesy of Zero Hedge
And here is “Putinflation” in context:
PutInflation in context pic.twitter.com/onADmgZWqi
— zerohedge (@zerohedge) April 12, 2022
Powell also told Congress that he anticipates ongoing rate increases as he tries to tame Bidenflation.