The Federal Reserve Has Debunked the Biden Administration’s Lies

Whenever the Biden administration finds itself in a tight spot, it resorts to lies, rather than transparency and solutions. There are countless examples to cite. Look no further than the White House’s multiple lies about inflation.

First, the White House dismissed skyrocketing inflation, claiming that inflation would only be “transitory.”

Then, White House Chief of Staff Ron Klain claimed inflation was just a “high-class problem.” The truth, however, is that inflation is effecting middle-class and working-class Americans the most.

Now, the Biden administration is declaring that the real culprit is Russia’s president, rather than Biden’s policies and wasteful government spending.

With that in mind, the White House’s lies are quickly backfiring on them. According to The Blaze, the Federal Reserve has debunked falsehoods about inflation that came from the administration back in February.

Digging into the Underbelly of Inflation

This past Wednesday, Federal Reserve Chairman Jerome Powell spoke candidly about inflation in America during a press conference.

At one point, Powell was asked by a Fox Business reporter about White House assertions that votes against Biden’s Federal Reserve nominees are prolonging inflation.

To this end, the Federal Reserve chairman stated that Biden’s unconfirmed nominees, along with Senate affairs, are not hurting the agency’s ability to take on inflation. It’s also worth noting that this press conference came after the Federal Reserve increased interest rates to reduce inflation rates.

Since Powell’s remarks on Wednesday, the White House has not walked back its false accusations that Republican senators are to blame for continued inflation.

The Real Culprit

As general anger over inflation continues to rise amongst the public, the Biden administration is not becoming any more honest with the American public.

The White House, along with Democratic lawmakers, have come out this month and declared that inflation is not a consequence of government spending.

When Biden spoke at a political event last month, he shouted that he’s “sick of” Americans making the connection between government spending and inflation. Yet, the unfortunate reality is that inflation is the result of how the Biden administration has recklessly spent federal funds.

When it’s all said and done, there are no free lunches in life. Biden was also not honest with the American public when he said his spending proposals would not add “a penny” to the national debt.

In real-time, the spending bills and stimulus checks that Biden happily handed out are now being paid for by the American people in the form of inflation and higher interest rates.