Biden's Own Fed Chair Calls B.S. on 'Putin Price Hike' Nonsense

Oopsie, Joey.

Biden’s best — and by “best,” I mean most embarrassingly cringeworthy — buck-passing effort over the last 17 months has been his ridiculous and continuing insistence that the war in Ukraine has been and remains responsible for all that ails America, including raging inflation and runaway gas prices, while Joe himself continues to bear zero of the responsibility. This, of course, is a complete crock of crap.


Now it appears that Biden’s own Federal Reserve Chairman, Jerome Powell, thinks so — knows so — as well. As reported by The New York Post on Wednesday, Powell told the Democrat-controlled Senate Banking Committee that “inflation was high [way] before” the Feb. 24, 2022, Russian invasion of Ukraine. Powell made the admission after Republican Senator Bill Hagerty (Tenn.) led him into a trap from which no honest person could lie his or her way out. You know, like Biden, Harris, Pelosi, & Company do with impunity.

Here’s how that went down, as transcribed by The Post:

Hagerty, deftly:

I realize there are a number of factors that play a role in those [sic] historic inflation that we’re experiencing — supply chain disruptions, regulations that constrain supply; we’ve got rising inflation expectations and excessive fiscal spending, but the problem hasn’t sprung out of nowhere.

Then, like Holy Water thrown in the face of a vampire, Hagerty hit Powell with facts:

In January of 2021, inflation was at 1.4%. By December of 2021, it had risen to 7% — a fivefold increase. Now, since the war in Ukraine began in late February, the rate of inflation has risen incrementally another 1.6% to a current level of 8.6%. So again, from 7% to 8.6%.

Then, Hagerty closed the deal: “Given how inflation has escalated over the past 18 months, would you say that the war in Ukraine is the primary driver of inflation in America?”

An honest Powell could only respond one way; surprisingly, he did just that:


No, inflation was high before — certainly, before the war in Ukraine broke out.

Again, oops.

Somewhat surprised, Hagerty acknowledged Powell’s honesty:

I’m glad to hear you say that. The Biden administration seems to be intent on deflecting blame and as recently as just this past Sunday spread the misinformation that Putin’s invasion of Ukraine is the ‘biggest single driver of inflation.’ I’m glad you agree with me that that is not the truth.

Biden has made the false claim, repeatedly. As noted by The Post, the Buck-Passer-in-Chief said in a statement earlier this month after data showed annual U.S. inflation crept higher to 8.6 percent in May from 8.3 percent in April that is just as pathetic as every lie he spews as he continues to shirk responsibility:

Putin’s Price Hike hit hard in May here and around the world: high gas prices at the pump, energy, and food prices accounted for around half of the monthly price increases.

The pathetic, almost funny part is how the addled old politician continues to tell outrageous lie after outrageous lie, fully aware he’s lying his ass off as the words pass through his lying lips. Even worse, the White House believes hardworking Americans actually believe Biden’s lies.

Au contraire.

According to the results of a Rasmussen poll released on Tuesday, just 11 percent of Americans believe Russian President Vladimir Putin is to blame for record-high gas prices in America. The majority instead point the finger directly at Biden himself. The poll results are shocking in their relative honesty and lack of political posturing or attempting to cover for Biden and the Democrats.


Among those who blamed neither Biden nor Putin, 29 percent blamed the oil companies, which Biden has falsely accused of “profiteering” on an ongoing basis, so Biden’s lies in that respect no doubt somewhat skewed the poll results, as well.

As noted by Breitbart, while 80 percent of Republicans think Biden’s policies are to blame for skyrocketing prices at the pump, 54 percent of voters not affiliated with either party place the blame squarely on the failed president’s shoulders. Yeah, that’s not good, Joe — that’s not good, at all.

Anyway, back to Powell. To be fair, in response to questioning from Sen. Kyrsten Sinema (D-Ariz.), as noted by The Post, Powell did say fuel and food prices clearly were “influenced” by the war in Ukraine, even if most of the annual jump in prices was unrelated.

The increase in commodity prices is clearly connected to the war in Ukraine. And so that that part of inflation would be certainly much lower than it is without the war in Ukraine.


The bottom line:

Every single major decision Biden has made — translation: every radical left bill or executive order that has been shoved in front of him and he has dutifully signed — has been to the direct and purposeful detriment of America and in most cases, hardworking Americans. Yet, as recently noted by National Review, Biden’s list of scapegoats is long and growing longer, seemingly by the day, as recently noted by Rep. Steve Scalise (R-La.) during an interview with Fox Business.


The other bottom line:

To paraphrase the late Boston Democrat statesman, Daniel Patrick Moynihan, we are all entitled to our own opinions. We are not, however, entitled to our own facts.

As hard and as often as Joe Biden tries, he is not entitled to have the American people believe his lies.

Related on RedState:

Biden Reveals the Pain Is the Purpose on Gas Prices

Kamala Harris ‘Solves Inflation’ in a Most Embarrassing Way as Midterm Panic Intensifies

Move Over, Vlad — Buck-Passing Biden WH Now Blames Gov. Abbott for Raging Inflation


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