Commerce Secretary Gina Raimondo was hit with some very tough questions by CNN’s Jake Tapper.
To start the interview, Tapper said, “You heard Secretary Yellen this week said she got it wrong about inflation. In July, you told Bloomberg that inflation would be temporary, about a year ago. As recently as six months ago, you were calling inflation a -quote- ‘short term problem,’ not a long-term problem. So, you got it wrong too.”
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She responded with, “Yeah, good morning, good to be with you…So, clearly, we are and Americans are struggling with inflation, but I don’t think anyone predicted Putin’s war in Ukraine or various other things that have happened that have been unexpected. I still think we will get inflation under control. We just have to stick with it and see it through. You know, I think it – it’s worth noting that gas prices are up $1.40 a gallon since Putin moved troops into Ukraine. So, the president and our team is doing everything we possibly can to get inflation under control.”
She then attempted to use Larry Summers as an example to help her case.
“You heard Larry Summers, a top economist, just yesterday saying you’re starting to see -you know, you’re starting to see inflation come down,” she said.
Tapper then corrected her and said, “Well, all due respect, Madam Secretary, Larry Summers, a year ago, more than a year ago, was saying that the Biden administration was putting too much money into the economy, and he was concerned about inflation.”
“And Biden administration officials said that Larry Summers was wrong. And it turned out Larry Summers was right,” Tapper added.
Tapper also asked Raimondo about the baby formula crisis.
“We’re talking about two critical issues here that directly affect the American people where they live where the Biden administration looks like it was caught flat-footed.”
“Why does it seem the Biden administration is consistently playing clean-up on these problems that are playing out exactly as many experts forecast they would, instead of heading them off before they become a crisis?”
Raimondo responded by citing her time as Governor in Rhode Island and how she navigated COVID-19. She also claimed she only learned of the problem in April, but the White House released a statement on May 12th. In the statement, they said they had been working on the problem “diligently” for months.
Raimondo also added, “We have a strong economy now. People are working. Inflation’s a problem. I will grant you that, and we will get it under control because we’re going to stick with it until we do.”