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Claim: Biden’s false claim about inflation was really just making the point that the causes of inflation were already in place when President Joe Biden took office.White House Press Secretary Karine Jean-Pierre on Wednesday said that President Joe Biden’s false claim that inflation was at nine percent when he took office was intended to point out that the causes that led to inflation reaching that high were in place when he took office in January of 2020.when he took office.
Jean-Pierre replied that the president’s claim should not be taken literally. He was saying inflation was nine percent in order to make the point that the “factors that caused inflation” were in place when he took office. “Reopening after the pandemic unavoidably increased inflation by unleashing pent up demand. Inflation increased quickly as we reopened,” Jean-Pierre said.Biden did not make a claim about the causes of inflation. He said that inflation was nine percent when he took office, which is false. The consumer price index’s year-over-year rise did not reach nine percent until June 2022, nearly a year and a half after Biden took office.
Summers was the Treasury Secretary under Bill Clinton, the director of the National Economic Council under Barack Obama, the chief economist of the World Bank, and had been president of Harvard University.
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