DNC Chair on Gas Price, Mortgage Rate Spike: We’ve Had a Drop in Inflation

On Wednesday’s broadcast of “CNN This Morning,” DNC Chair Jaime Harrison responded to a question on whether the economy is a bad issue for President Joe Biden given the spike in gas prices and mortgage rates hitting 20-year highs by saying the economy isn’t a vulnerable spot and “Because of the Inflation Reduction Act, we have seen a precipitous drop in terms of inflation in this country. And so, every economic measure out there shows that we’re not going into a recession. We are roaring back into the future on this economic message.”

Co-host Victor Blackwell asked, “Gas prices are going up, 25 cents over the last month, a nickel off the price about a year ago. The mortgage rates are going up, 20-year high — more than a 20-year high. And the administration and the party did such a good job of explaining several years ago about how that’s outside of the President’s control, right? We get that, but this is what people feel. Is there a vulnerability in tying the President’s re-election campaign, fusing his name with economics, when so many people feel so sourly about the economy? Is that a vulnerability for the President?”

Harrison responded, “Well, it’s not a vulnerability, Victor, in that — because what we have seen over time is — and we see this in contrast to every other major global country in the world, that America is, again, at the head of the line. We fight back — we have fought back on inflation. Because of the Inflation Reduction Act, we have seen a precipitous drop in terms of inflation in this country. And so, every economic measure out there shows that we’re not going into a recession. We are roaring back into the future on this economic message. And so, we’re going to keep going at it. We’re going to keep constructing more roads and more bridges. We’re going to keep employing people, making sure that they have good-paying union jobs, not just the minimum wage jobs that Republicans want to restrict the American people to. And, [at] the end of the day, the American people will see that there’s one party that is fighting for them, and there’s one party that is fighting just for themselves, for their own power.”

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