White House press secretary Karine Jean-Pierre offered answers not connected to reality Monday when pressed about the growing economic crisis.
When it came time for reporter Peter Doocy to question Jean-Pierre, the Fox News correspondent came out of the gate swinging, asking a question about the stock market continuing to spiral downward.
"President Biden once bragged about the stock market hitting 'record after record after record on my watch.' How about now?" Doocy asked, noting that "all the gains from President Biden’s time in office have been wiped out."
The question carried specific weight, because around the same time as the press briefing, stocks officially entered "bear market territory," which means the S&P 500 index has fallen 20% or more from its all-time high. Jean-Pierre, however, immediately deflected from answering the question.
Instead of addressing the stock market, she noted "global challenges" and that other countries are experiencing inflation. She then blamed Russian President Vladimir Putin and the COVID-19 pandemic for domestic problems.
Shockingly, Jean-Pierre said the White House believes Americans — whose paychecks have less purchasing power because of growing inflation — are "well positioned" to weather the storm, claiming Biden is responsible for "historic gains" in the economy.
06/13/22: Press Briefing by Press Secretary Karine Jean-Pierreyoutu.be
When Doocy asked how President Joe Biden would respond to Americans concerned about their shrinking 401(k) accounts, Jean-Pierre continued spouting out-of-touch rhetoric.
Jean-Pierre claimed America has experienced "the strongest job market in American history" (in reality, America remains more than 800,000 jobs below pre-pandemic levels), before touting the American Rescue Plan for creating an "historic economic boom."
"Didn’t it also lead to historic inflation?" Doocy shot back.
"No," Jean-Pierre claimed. "That is — that is — that is not — that is not how we’re seeing the American Rescue Plan."
However, economists at the San Francisco Federal Reserve published analysis in March that concluded Biden's COVID-19 stimulus is, in fact, driving inflation.
"Since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries," the study said. "Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021."