‘I warned Democrats about inflation. Why didn’t they listen?’ Obama economic advisor Steven Rattner tears into price rises and says the $1.9T American Rescue Plan was the ‘original sin’ because it focused on stimulus payments

• Steven Rattner became the latest Obama-era economic advisor to hit out against the Biden administration’s insistence that inflation is ‘transitory’
• ‘Last Wednesday’s terrible Consumer Price Index news shifts our inflation prospects strongly into the “embedded” category,’ he said
• Prices this October were up 6.2 percent over last October, and raised 0.9 percent in that month alone
• ‘How could an administration loaded with savvy political and economic hands have gotten this critical issue so wrong?’ Rattner questioned 

Steven Rattner became the latest Obama-era economic advisor to hit out against the Biden administration’s insistence that inflation is ‘transitory.’ 

‘Enough already about about “transitory” inflation,’ Rattner wrote for the New York Times. ‘Last Wednesday’s terrible Consumer Price Index news shifts our inflation prospects strongly into the “embedded” category.’

Inflation has surged to its highest point in 31 years. Prices this October were up 6.2 percent over last October, and raised 0.9 percent in that month alone.