London Daily

Focus on the big picture.
Saturday, May 31, 2025

Treasury official claims inflation part of ‘economy in transition,’ only way out is 100% global vaccination

Treasury official claims inflation part of ‘economy in transition,’ only way out is 100% global vaccination

The comments are the latest in confusing, conflicting messaging on inflation from the Biden administration

A top Treasury official this week claimed that the recent surge in inflation is part of an "economy in transition" and that the only way out is to get everyone in America and worldwide vaccinated.

The Labor Department said this week that the consumer price index had risen 5.4% year over year in September, according to the Labor Department. Prices increased 0.4% month over month.

Energy prices climbed 1.3% in September and are now up 24.8% over the past year. Food prices, meanwhile, jumped 0.9% last month and are now up 4.6% annually. Prices for meats, poultry, fish, and eggs, have climbed 10.5% this year while beef prices are up 17.6%.

"Today we face an economy in transition, and as part of the transition we are seeing higher pieces for some of the things people have to buy," Deputy Treasury Secretary Wally Adeyemo said in an interview with ABC News.

"That’s exactly why the president was focused in the American Rescue Plan in ensuring on getting stimulus into the hands of the American people, so they'd be able to buy the products they need," he said.

The solution for the Treasury Department, however, is not monetary, but medical.

BUTTIGIEG ON PATERNITY LEAVE SINCE MID-AUGUST AMID SUPPLY CHAIN CRUNCH


"But the reality is the only way we’re going to get to a place where we work through this transition is if everyone in America and everyone around the world gets vaccinated," he said.

"This is why the president continues to be focused on the idea that we get everyone who can vaccinated in this country and while we’re doing that we continue to provide the kind of resources the American people need to make it to the other side," he said.

Federal Reserve Chairman Jerome Powell, meanwhile, has claimed the recent bout of inflation is "transitory" and that price pressures will ease over time as supply chain bottlenecks caused by COVID-19 are alleviated.

Comments

Oh ya 4 year ago
If you have at least 2 working brain cells you can see that this is not about the china flu but control and gates idea of population control through so called vaccines. Listen to the 2010 TED talk when gates said this. Oh the control is only for the little people not people like him

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×