Sen. Joe Manchin of West Virginia ripped into President Joe Biden’s administration on Tuesday, accusing him of failing to “act quickly enough” to combat increasing inflation.
The venomous remark comes as the White House seeks to get Manchin back to the table for negotiations on Vice President Joe Biden’s agenda. On Tuesday, the Consumer Price Index (CPI) provided more gloomy data. In March, the carefully watched inflation indicator increased by 8.5 percent year over year, the highest increase in four decades.
Joe Manchin Believes That The Rate Of Inflation Could’ve Been Controlled
The analysis shows how the war in Ukraine has already had an impact on growing prices in the United States, with dramatic rises in food and energy prices, but Americans were already feeling the strain before Russian President Vladimir Putin started a large-scale invasion of Ukraine.
Joe Manchin made it plain that his wrath is directed at “more than one party,” but his rage at his own party’s leadership for its handling of inflation will not go ignored. He also slammed more federal spending and expressed concern about the nation’s mounting debt.
Top Biden administration officials, including Treasury Secretary Janet Yellen, reinforced what had generally been the economic consensus for months: inflation would be a temporary issue that would improve as the epidemic passed and global supply chains straightened themselves out. Former Federal Reserve Chair Janet Yellen, meanwhile, stated in December that it was time to ditch the more optimistic estimates. Yellen’s replacement, Fed Chairman Jerome Powell, changed his mind on inflation as well. One of the Fed’s responsibilities as the US’s central bank is to regularly monitor and strive to manage inflation.
The White House has attempted to calm Joe Manchin’s nerves. In a polarised Washington, the West Virginia Democrat has disproportionate power. Late last year, he sunk the House-approved social- and climate-spending package, putting the Democratic agenda on hold in the 50-50 Senate.
