Biden economic adviser touts Inflation Reduction Act, blames Putin for high cost of food
16.10.2022 - 22:39
/ foxnews.com
Council of Economic Advisers Chair Cecilia Rouse touted the Inflation Reduction Act on Sunday and said Russian President Vladimir Putin was to blame for the high cost of food following the release of September's inflation numbers. CNN's "State of the Union" host Dana Bash pressed Rouse on September's inflation numbers and President Biden's reaction to the September inflation report.
Prices rose 8.2% in September from last year. "The price of food is part of our inflation challenge," Rouse said.
"Part of the challenge for food is actually through energy, and so Putin's war against Ukraine, where he has weaponized natural gas, he's weaponized energy, shows up in food prices as well." "It’s why the president is focused on trying to bring down costs.The Inflation Reduction Act, while it doesn’t directly speak to food, it does go to medical care, it goes to energy costs and we are focused on trying to help families get through this," she continued. Council of Economic Advisers Chair Cecilia Rouse praised the Inflation Reduction Act on Sunday. (Screenshot/CNN/StateOfTheUnion) Bash also asked Rouse when the "so-called" Inflation Reduction Act would actually bring down inflation. An analysis released in August suggested the Inflation Reduction Act would do very little to bring down inflation. "So the many parts of the bill will start to take effect next year.
For example, there are tax credits for energy to help people weatherize their homes and also bring down other forms of energy costs. So we are focused on helping to make that transition to clean energy in a way that brings down energy costs for families.
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