President Joe Biden cautioned that U.S. inflation could last for a while after data on Friday showed that politically sensitive price pressures unexpectedly accelerated in recent weeks.
We’re gonna live with this inflation for a while, Biden said at a Democratic fundraising event in Beverly Hills. It’s gonna come down gradually, but we’re going to live with it for a while.
The wary comments at an event hosted by billionaire media magnate Haim Saban came as the administration faces increasing pressure ahead of Nov. 8 midterm elections, where Biden’s fellow Democrats’ control of Congress is on the line.
Republicans would have to be idiots not to use this in their 2022 and 2024 campaigns, but considering the 2020 campaign, that’s a real possibility.
This is also a market signal. Saying it out loud is bad enough, but saying it at a private event for wealthy donors is about the worst way to do this.
But Biden is past caring. The media never cared and his staffers can barely control him long enough to get through a press conference.