Cecilia Rose, Chair of the White House Council of Economic Advisers, who also serves on the Obama administration’s Council of Economic Advisers, said on CNBC’s Squawk Box on Tuesday that we are in a “different economic situation” than when the former declining President Obama stepped on the gas. tax holidays. as a “trick”.
Co-host Joe Kernen said, “Did you agree with him back then? Did you change your mind or is it different this time?”
Rose said, “Look, the economic situation is different. We are currently coming out of a global pandemic – or at least we hope we are coming out of one. There is a war between Russia and Ukraine. There is too much uncertainty. We have record inflation. So while this president is proud of the growth of our economy and the strength of our labor market last year, he also knows the cost of inflation to American families. We know that most of the inflation occurred in the last months of Putin’s invasion of Ukraine. Because it caused the price of our energy to rise. That’s why President Biden is looking at every tool available to make life easier for people at gas stations. That’s why it removed historic emissions from our strategic oil reserve, relaxed some biofuel regulations, and considered other options, including a gas tax holiday. ”
Source: Breitbart
