As we reported yesterday, inflation stayed at a 40-year high during the month of August coming in at 8.3%. On the same day as the report came out, Joe Biden thought it would be a good idea to hold a formal celebration outside the White House celebrating the recently signed Inflation Reduction Act.
According to the Western Journal, as the celebration aired on live TV, graphics showing the stock market plummeting were shown as Joe Biden bragged about the Inflation Reduction Act.
CNN had no alternative but to point out the “unfortunate split screen” on their own coverage.
FOX News’ Neil Cavuto also reality checked Biden on LIVE TV.
As noted by the Washington Examiner, Tuesday marked the worst day for U.S. stocks since the first few months of the pandemic. The DOW Jones dropped more than 1,200 points, Nasdaq plunged by more than 5%, and the S&P 500 had about 4.3% of its value erased in the hours after the CPI report became public.
The report even got the attention of President Trump.
Trump wrote on Truth Social, “Another, “I told you sooo.” The Stock Market is now, on top of everything else, CRASHING!!! One of the worst seven days in history, one of the worst years in history – and it will only get worse. Wasteful Green New Deal, and other, SPENDING! Interest rates will have to go way up in order to combat record INFLATION. The Fed no longer has a choice. This was all self inflicted, no rhyme or reason. Like much else (Ukraine), should never have happened!!”