White House press secretary Jen Psaki padded the landing for the next Consumer Price Index report, telling reporters the administration expects a “high year-over-year inflation reading” once the data are published Thursday morning.
Psaki, speaking during Wednesday’s White House press briefing, noted there are both monthly and annual data on price changes. The administration has maintained people should focus on the monthly figures, considering “what we’ve seen over the last year.”
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“So above 7%, as I think some are predicting, would not be a surprise, even though we don’t know what the data is going to be going to be,” she continued. “But looking at that reading of it as we prepare for tomorrow is still consistent with the path and our view.”
A reporter pressed Psaki on the White House’s assessment that inflation will “ease” in 2022 without reversing the economic growth seen in 2021, but Psaki noted the “Federal Reserve has purview over taking the independent approaches” to address rising prices.
“The president has said he welcomes and supports their efforts to take steps with their plans to take steps in terms of our confidence,” Psaki said. “We, again, rely on what their projections are that inflation will come down, that it will moderate, and we are also continuing to take steps to continue to grow the economy and continue to address the needs that the American people have in the economy.”
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You can watch Wednesday’s entire briefing below.
