The state of the economy is due to “self-inflicted wounds,” Economic Expert Stephen Moore said on The Annie Frey Show.
“We’ve shifted from the energy prices being high to now the food prices being high,” Moore said, “and the only reason the gas prices are low is because we’re driving less because we can’t afford to fill up the tank.”
According to Moore, the data shows people are using as much gasoline this summer as they did during the 2020 COVID-19 crisis. He jokes that the slight reduction in gas prices is an ‘improvement,’ as the average price dropped below $4 earlier this week. It was $2.50 a gallon when Trump left office, he reminds listeners.
“I think they might be able to get the inflation rate down to maybe 6%, but still, that’s a very high inflation rate,” Moore said. “When Trump left office we had 1.5% inflation rate. We’re not going to get anywhere near that.”
To hear the full story on The Annie Frey Show, listen above.
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