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Rising gas prices? you know, jonathan, you absolutely have to recognize both realities. inflation is clearly global, the recent report by the oh act, which is the 38 major countries, show the average inflation across those countries as 9.2%. so, this is clearly a global phenomenon caused by an unprecedented shutdown and starting up of the economy. and unthinkable war of aggression in ukraine. and yet, all that said, the fact that it is global s little comfort to an american family going through the grocery line or going up to the gas pump. many of them have new jobs, many of them have raises. but they still don t want to give back any of that. i do think that, yes, we have to understand the fundamental strengths that have come out of the american rescue plan. let s just look at the jobs report that came out friday. ....
Situation where you have global issues, yet you have to rightly understand that for americans going through the gas pump or the grocery line, the fact it s a global phenomenon is not of necessary comfort to them. so what the president does want to make clear is, one, we ve had historic jobs gains, historic drops in unemployment. the economic the jobs number on friday, which the washington post called the great return to work, shows 4.2 million americans coming back to work, and the resilience of this economy, because american rescue plan. the fact we have dealt with omicron, delta, and none of it so far has derailed this recovery, but i do think we need to do better at making clear not just the president s plan, but also the fact that this wall of opposition from the rep side ....
Three years now. so thinking that there was going to be another strain, i think that s something that should have been anticipated, especially if you have doctors in the cdc telling you that they are going to be new strains. the war, that s a different story. but this is real for americans and i just don t think that we should be putting, or the white house, or the advisers to the president, should be painting a rosy picture. did it take too long for the administration to realize how bad it was, the inflation, and how high prices are going because now to focus, i m going to focus on the economy, shouldn t have happened sooner? don, i think that this administration has understood from the start that even if this is a global issue, which it is, with there being very little comfort to an american family going and driving up to the gas, pump going through a grocery line, that inflation is ....
Going through a grocery line that inflation is also 9% in the u.k. or 8% in other european countries. and so this has been a top priority for a long time. what the secretary said was that some of the continuation was unanticipated. as we saw that, we of course made adjustments. i think the federal reserve is making adjustments, too, to tam manytamp down on inflation. one of the things you ve seen the president start to emphasize since we ve seen the inflation be more sustained is the idea of bringing down the deficit. remember when you re trying to jump start the economy, you increase the deficit, give it stimulus. when you re trying to dampen inflation, you pull back. we re down $1.5 trillion and the president is proposing a minimum ....
Grocery line and seeing higher prices. and so you see the president today meeting with the with the federal reserve chairman. what you also saw in the op-ed was him laying out his approach. one of the first things he said was that he would completely respect the independence of the federal reserve even in this tough time. now, that s not necessarily the usual thing, since the 1960s, five different presidents, including the prior president, have sought to berate or interfere or bully or intimidate the federal reserve when it had to take tough steps to tame inflation. now you are seeing a president stepping back and saying he s going to respect the independence and the room they need. and everything to lower prices on families, including historic spr strategic petroleum release ....