Inflation continues impacting Americans

Published: Jun. 15, 2022 at 4:51 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

DES MOINES, Iowa (KCRG) - As Americans continue to feel the impacts of inflation especially at the pump, white house officials say inflation is not just a US problem but a global one.

In an interview Wednesday morning with TV9, the Deputy Director of the National Economic Council told us the Russian war in Ukraine is driving prices higher.

He saids President Biden is working to address the burden that inflation has caused to people around the US.

”This is not a US problem. The United Kingdom, the Eruo Zone, Canada, Japan. There are many, many countries where they are facing 20, 30, 40 year highs on inflation. And that’s because inflation is being driven largely not by decisions that the federal government make, but by Putin’s actions in Ukraine,” said Bharat Ramamurti. ”One thing he’s done on the gas side is order the single largest release from the strategic petroleum reserve in the history of this country. 180 million barrels of oil. That’s going to help bridge the gap with some of the supply issues we’re seeing coming out of Russia.”

Meanwhile Republican Senator from Iowa, Chuck Grassley, Wednesday was criticizing the Biden administration for inflation.

He said suggestions like Gas Tax Rebates and Business Tax Increases would only make inflation worse.

”This record inflation brought on by the bad policies of this Biden administration as we all know is hurting all Americans,” said Grassley.

Grassley went on to say he introduced a bill he says would provide targeted tax relief to lower and middle income Americans.

Copyright 2022 KCRG. All rights reserved.