CNN’s Lemon ‘Despite What President Biden Says, Inflation Was a Major Concern Way Before’ War

On Tuesday’s broadcast of CNN’s “Don Lemon Tonight,” host Don Lemon argued that despite the claims of President Joe Biden, “inflation was a major concern way before Putin’s invasion.”

Lemon said, “How much of this 8.5% inflation rate can be blamed on the war in Ukraine? Because, despite what President Biden says, inflation was a major concern way before Putin’s invasion.”

Economics Professor at the University of Chicago Booth School of Business Austan Goolsbee responded, “Yeah, that’s fair. It depends which products.” Goolsbee elaborated that gas and energy prices have been increased by the conflict in Ukraine, but for other goods, “you’re quite right that inflation began before the Russians began massing troops.”

Lemon added, “Gas prices are up more than 18% last month, alone. Even when you strip out the more volatile food and energy categories, prices still rose 6.5%…over last year, which is the biggest jump since August of 1982.” And “Food costs are up 8.8% from last year. Used cars are up more than 35%. Of course, unemployment is low at just 3.6%. Wages are rising. But it’s hard for people to enjoy the gains when they are paying so much for food and gas prices. It’s wiping out the raises or the cost of living increases or whatever it is.”

Follow Ian Hanchett on Twitter @IanHanchett