Joe Biden is trying to convince Americans that his administration has a handle on inflation.
But reality continues to smack down Joe Biden’s narrative.
And a top Wall Street CEO just revealed one truth about skyrocketing inflation that left Joe Biden fuming.
With the help of Mitch McConnell and Senate RINOs, Joe Biden and the Democrats rammed through trillions of dollars in spending that sent inflation to record highs.
Democrats used clever names for their wasteful spending bills to try and trick Americans into believing they were fighting inflation.
Despite its $700 billion in wasteful spending, Biden and the Democrats rammed through a trojan horse for the Green New Deal in the so-called Inflation Reduction Act.
Of course, the legislation had nothing to do with lowering inflation, as it spent billions on the Left’s green agenda and even funded 87,000 new IRS agents to shake down hard-working Americans.
Instead of lowering inflation, the Inflation Reduction Act helped send prices even higher across the country.
And now one famous Wall Street executive is calling out Biden and the Democrats’ lies about lowering inflation.
During an interview with Bloomberg on Monday, JPMorgan CEO Jamie Dimon admitted that the Inflation Reduction Act is full of “inflationary attributes” that lead to higher prices.
Dimon said that it is possible to avoid a recession and bring down inflation, but without a change in policy “a mild recession is possible, a harder recession is possible.”
“I think there’s a good chance that inflation will come down, but not enough by the fourth quarter,” Dimon said. “The Fed may actually have to do more,” he continued, before adding “and I think a lot of things that have happened in the world, think of bigger trends, are inflationary.”
“Infrastructure spending, the [Inflation Reduction Act], lessening trade with certain parts of the world, bringing trade back into America, those things are all — the green transition’s going to take a lot of capital,” he added. “So, all of those things kind of have inflationary attributes that are very different than we’ve been through the last 20 years.”
Dimon also praised Ron DeSantis and Greg Abbott for keeping Florida and Texas “Pro-American, optimistic, and pro-business.”
Because of Ron DeSantis’ pro-freedom agenda and leadership, Dimon said he “loves Florida” and would like to see similar free-market policies implemented on the national level in America.
Dimon’s predictions are a bad sign for Biden, as rising inflation combined with a recession would almost guarantee Democrats lose the White House in 2024.
