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White House economic adviser Heather Boushey said that President Biden is focusing on a green energy transition because of inflation on CNN’s “New Day” on Thursday.
During her appearance, Boushey discussed inflation and the economic struggles it has created for Americans. She did not mention that Biden’s environmental and economic policies have helped increase prices and fan the flames of inflation.
“Overall, what we see is this global trend towards higher prices and you see many countries that are reaching record peaks like the United States and, again, it is because in large part right now because of this energy crisis,” Boushey said when asked by CNN’s John Berman about high prices.
Berman asked Boushey why the U.S.’s inflation is worse than Canada, France, Italy, Japan, India, Mexico, China, but Boushey just reiterated that inflation is affecting countries around the world.
“Figuring out ways to contain the crisis in energy and for countries like the United States and Europe of course is taking concrete steps to wean ourselves off of these global oil markets because that is what is making all of these economies so vulnerable right now,” she continued. “It’s why the president continues to focus on his clean energy agenda that can help make sure that we see prices in the future that are lower and less volatile than what we and other countries are seeing today.”
Biden previously has called inflation an opportunity to make a green transition in the economy.
During her appearance, Boushey also cited Putin’s invasion of Ukraine and the supply chain crisis as causes of inflation.
“Let’s be clear, the bulk of the increases in prices last month were due to energy and food, and most of that was indeed due to energy. So this is really the result of, you know, the United States and countries everywhere coming out of a historic pandemic where we have seen these ongoing challenges with supply chains, these fragile supply chains that businesses created around the world that have made it difficult to get products to shelves in the time of this recovery from a pandemic,” she said.
“You add on top of that this unprovoked war that Putin has been waging in the Ukraine and that is why we have seen prices rise. So these gas prices — and, again, as you pointed out, this is a global phenomena. Again, coming out of the pandemic is global, the supply chain challenges are global and the energy challenges are also global,” she continued.
Biden is traveling to Saudi Arabia this week to ask the country to increase oil production. U.S. inflation hit a new 40-year high of 9.1 percent in June, it was announced on Wednesday.