The Breitbart News reported on May 14 that the White House admitted Friday that they were surprised by the rise in consumer prices in March, the biggest jump since 2008.
Cecilia Rouse, chairman of the White House Council of Economic Advisers, said “we didn’t predict this” and that the Federal Reserve was “a little surprised by the jump.
Rouse gave some analysis of the recent bad economic data at Friday’s White House press briefing. She believes that part of the jump in consumer prices is the result of a month-to-month spike in used car sales. Compared with March, used car prices jumped 10 percent in April and are up 21 percent from a year ago.
Ruth said, “People are buying cars and avoiding public transit because of the money handed out by the Communist Party’s viral bailout program.”
She also said more people are considering traveling in the summer, and airfares have risen 10 percent.
Ruth concluded by telling reporters to expect “some instability” in economic figures as the economy recovers from the Communist virus pandemic.
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