CNN anchor Abby Phillip said that despite the White House’s attempts to rebrand the most recent and dramatic increases in gas prices as the “Putin Price Hike” — bound entirely to Russian President Vladimir Putin’s invasion of Ukraine — the American people do not appear to believe that.
During a panel discussion, which included Axios political reporter Hans Nichols, Phillip and Nichols agreed that no matter what good economic news the White House might have to offer — or what excuses they made to explain the bad news — the high prices at the gas pump were unavoidable, and they did not appear to be going anywhere.
“When inflation is where it’s at, when you see gas prices going where it’s at, we can talk about a jobs report here, we can talk about the latest PCE [personal consumption expenditures] numbers or the CPI [consumer price index], and all of us former Bloomberg reporters can really get into the weeds, right?” Nichols began.
“But there’s one number that they can’t really change right now,” he cautioned. “And that is what the placard says at the local gas station.”