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.
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.
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.