Topic: Putin Price Hike

A heated exchange occurred in the White House briefing room when a journalist representing African interests accused Karine Jean-Pierre of ignoring black reporters. Despite promising to return to the journalist for a question, the Press Secretary ended the briefing without doing so, leading to vocal protests from the back of the room.

A supercut of government messaging from June 2021 to June 2022 tracks the evolution of the "transitory inflation" narrative. Initially dismissed as temporary or a "high-class problem," the administration eventually shifted blame to Vladimir Putin and the "Putin Price Hike." Current gas prices are being compared to 2008 peaks, though adjusted for inflation, the current costs remain historically high.

President Joe Biden addressed the 8.3% inflation rate, attributing rising costs to the COVID-19 pandemic and Vladimir Putin's invasion of Ukraine. Biden defended his administration's spending while ignoring the role of Federal Reserve money printing. He emphasized that fighting inflation is his top domestic priority and expressed support for the Fed's independence in raising interest rates.

Representative Maxine Waters expressed support for U.S. officials volunteering to visit Ukraine, though she warned that Putin might try to kill President Biden if he visited. The hosts discuss the "Putin Price Hike" narrative used by the administration to explain inflation. They also briefly mention ongoing riots involving Muslim migrants in Sweden.

White House Press Secretary Jen Psaki introduced the term "Putin's Price Hike" to blame rising gas and food prices on the invasion of Ukraine. The hosts investigate the term "headline inflation," finding its Wikipedia entry dates back to 2007. They argue the administration is using "alliteration" and new economic categories to distract from domestic policy failures.