President Joe Biden praised his Inflation Reduction Act during a speech yesterday, but while he was speaking the stock market dropped more than 1,200 points
The Tuesday speech came just hours after the Bureau of Labor Statistics released inflation data showing consumer prices had ticked up. In fact, grocery prices have risen more than 13%.
On Wednesday, more inflation data was released showing a range of producer prices rose and was only offset by a drop in gasoline prices from the previous record-high levels.
Trish Regan predicted this inflation, and the impact of the Federal Reserve’s reaction, for months.
Could someone read Jerome Powell and his team the story of Goldilocks and the 3 Bears?
NOT TOO HOT – NOT TOO COLD.
They way overdid the printing, now they’ll way overdo the tightening…
AND they keep sending American economy into massive swings.
— Trish Regan (@trish_regan) September 14, 2022
The irony of Biden’s comments were not missed on Twitter.
Will never be able to get over the image of Joe Biden speaking about how he singlehandedly beat inflation as the stock market tanks over 1,200 points on live television due to inflation.
An all time moment in the history of American presidents. pic.twitter.com/agULMywRSL
— Greg Price (@greg_price11) September 13, 2022
Joe Biden had a victory party at the White House today to celebrate the worst inflation in forty years and the worst day for the stock market since he became president. Biden’s not just the worst president of our lives, he’s also got the worst staff too. pic.twitter.com/rWPZ03GEdg
— Clay Travis (@ClayTravis) September 13, 2022
BREAKING REPORT: Stock market TANKS almost 4% of it’s worth during Biden’s INFLATION REDUCTION ACT celebration…
— Chuck Callesto (@ChuckCallesto) September 13, 2022
The stock market is crashing bro
— Lavern Spicer 🇺🇸 (@lavern_spicer) September 13, 2022
Today Biden’s White House threw themselves a party with a celebrity musical act to brag about the “Inflation Reduction” Act…
…as the stock market crashed following the bad inflation report.
This is how out of touch they are.
WATCH ↓ pic.twitter.com/ezUxpv8QcC
— Steve Scalise (@SteveScalise) September 13, 2022