Fox News host Neil Cavuto and Gene Sperling, a former economic adviser to Vice President Kamala Harris' presidential campaign under Biden, got into a lengthy spat over who is to blame for high prices on Thursday.
Vice President Kamala Harris Suggested The FTC will allow grocers to impose “severe penalties” for “price gouging” on August 16th. speech in North Carolina. Sperling dodged Cavuto's questions about Harris' proposal before the Fox News host asked who was to blame for inflation under the Biden administration. Peaked It will reach 9% in June 2022. (Related: 'They're shoving words in my mouth': Hakeem Jeffries fires back at CNBC host for questioning Democrats' role in inflation)
“A lot of this may have come from this administration, malicious or not, and she was a key member of that administration and many of the spending plans have tended to raise prices, so do you think it's wise to blame others? Do you think that's even possible?” Cavuto asked Sperling.
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A back-and-forth ensued, with Sperling responding by asking if Cavuto had listened to the speech and refusing to answer whether the inflation was to blame for the Biden administration's spending plans. Larry SummersHe served as Secretary of the Treasury under President Bill Clinton and as an economic adviser to the Obama administration. Steve Ratner They warned that President Joe Biden's proposed spending could lead to inflation.
“Do you, the administration, take responsibility, Gene, do you take responsibility? Gene, I love you dearly, but I think it's a simple question: I have no agenda, and the right and the left hate me,” Cavuto said, as Sperling tried to interrupt him. “Let's get that out of the way. Let me ask you: Should this administration take responsibility, even for just a double-digit increase in food prices? No responsibility at all? No responsibility at all? Should she take responsibility for that?”
“No,” Sperling replied, blaming supply chain issues and the COVID-19 pandemic.
Since Harris and President Joe Biden took office in January 2021, prices have risen more than 20%.
“So you guys haven't done anything wrong,” Cavuto said. “And you're right, inflation is down dramatically from the highs of 2022. But when inflation goes up, when it goes up, it goes up double digits, when food prices go up, do you think your spending had anything to do with that? Absolutely not.” (Related article: “It will likely lead to higher prices”: Washington Post columnist criticizes Kamala Harris' economic plan on CNN)
“I don't think that was a big factor, and I think the rise in food prices due to the invasion of Ukraine played a role too. A lot of things happened,” Sperling argued. “Neil, let me just say one thing. [Harris] “I'm not saying that's the whole reason prices have gone up. I'm not saying that's the whole reason why prices have gone up. I'm saying that if someone is acting badly, if someone is taking advantage, she wants the power as a prosecutor and as an attorney general, and now as attorneys general of 40 states, to go after that. I want to be very clear, we don't use any pricing mechanisms. We don't use any automatic pricing mechanisms. But going back to my original question, what is she doing when she speaks to the American people? Is she showing that she's on their side? Is she just bragging about the numbers or is she just feeling their concerns?”
Cavuto and Sperling further discussed the factors behind the price hike before Cavuto concluded his segment.
“We could save a lot of time by talking to each other, but good luck and we'll see what happens,” Cavuto said.
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