Indiana Republican Rep. Marlin Stutzman was a vocal critic of Inflation during the Biden administration, frequently citing the “skyrocketing cost of living” and the burden on American households.
However, now that Trump is in office, Inflation is “just a sign of a strong economy.” When confronted with the news that Inflation is at 4.1%, the highest level in three years, he wasn’t concerned at all.
“Well, you never want to see inflation at those high numbers, John,” he said. “But of course, I tell you, the economy is still strong.”
“The fundamentals of the economy are strong, especially now that we’re going to see gas prices come down,” he continued. “I think you’re going to probably see a bit more of this. And this is something that is a challenge. We’re trying to balance two different things at once. Unemployment rates are at, uh, very low numbers, which is good. I see a lot of growth in Indiana, in Northeast Indiana, where manufacturing is coming back.”
“And so there’s going to have to be some sort of a tempering of, of course, the inflation numbers,” he added. “We don’t want to see costs continue to, uh, sky, you know, to move up higher than what they currently are. But I think it’s just a sign of a strong economy.”
Stutzman’s “sign of a strong economy” claim is certainly creative, to say the least. The acceleration is being driven overwhelmingly by energy costs, which jumped 23.5% in May, largely because of the Iran conflict energy shock — gasoline up 40.5%, fuel oil up 58.9%. That’s not a boom; that’s a war premium, you wingnutter.
Economists generally don’t look at energy-shock-driven Inflation and think “thriving.” The Fed has been holding rates steady precisely because they’re worried about it.
At least he’s got his talking points in order. What a shame we can’t use them to pay for groceries.