MacCallum Grills Biden Adviser on Inflation: ‘How Long Are You Asking the American People to Be Patient For?’

Martha MacCallum and White House economic adviser Gene Sperling tangled over inflation Friday, with the Fox News anchor asking how long Americans should expect to wait before they see prices come down.

On Tuesday, President Joe Biden celebrated the Inflation Reduction Act at the White House, though on that day it was reported inflation ticked up 0.1% from the previous month. Currently, the inflation rate is 8.3% year over year since August 2021.

MacCallum question Sperling as to whether the White House ceremony reflects economic reality.

“It kind of reflects a tin ear at the White House about what’s really going on, doesn’t it?” she asked.

“No, I do not agree with you at all,” Sperling replied. “The celebration at the White House was not about that we had solved inflation. Of course not. Yes, you’ve had two months where it’s been flat. Yes, headline inflation has come down. Yes, the PPI, the Producer Price Index cane down again. But, it is still way too high.”

MacCallum asked when prices will come down.

“So, give us a sense – if this Inflation Reduction Act is going to eventually work, you’re saying, when? What is the timeline?” she asked.

“Well, the Inflation Reduction Act was a series of policies, which I’ve discussed,” he answered. “Some of them will hit within the next few months, like capping the cost of insulin at $35, like not allowing prescription drugs to be reimbursed for Medicare at above inflation. All of those things will happen shortly.”

The Fox News host pressed Sperling further.

“How long are you asking the American people to be patient for?” she asked. “Five months, six months, two years, three years?”

“Let me just say, people have felt relief at the gas pump already,” he responded. “It’s down over a dollar thirty a gallon. You’re under $3.70 on average. The typical gas station is now charging about $3.39. So I think people are seeing some relief there. I think where they are not seeing relief is particularly in food prices, and we think we are moving in the right direction.”

MacCallum noted that inflation has increased faster than wage growth before moving on to the topic of illegal immigration.

Watch above via Fox News.