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Transcripts for CNN At This Hour With Kate Bolduan 20240604 15:33:00

it means that the president s plan of getting shots in arms and the american rescue package, this is been effective. this is led to much stronger growth than we were expecting before the president took office and this is a strong number today. so i feel really good about where the economy is going right now. rising inflation continues to hit every american. the consistent message that i ve heard from the white house and the administration has been these price hikes are temporary. how long do the spikes have to last before this isn t seen as temporary and thus a much bigger problem? inflation is certainly an important issue and one that we talk about all of the time and we are certainly watching. but at this point what we re seeing in terms of price gains have to do with the recovery fro from the pandemic. it is more difficult to turn the economy on than it was to turn it off in the spring of 2020. we ve seen the supply chain

Transcripts for CNN At This Hour With Kate Bolduan 20240604 15:34:00

hiccups that led to some price increases. so yes, we re seeing this. but of course last month the largest share price increases was in cars, about 60%, was in automobiles and another significant chunk was in pandemic related services so we think that as we work our way out of this pandemic, as the supply chain hiccups get resolved, that we ll see prices come back down to normal. and what i m trying to get at because i asked one of your colleagues a few weeks back, what is your definition of temporary when it comes to inflation right now? well, you know, everything in the economy hinges on how well we wrap our hands around this pandemic. and so as we re watching what is happening with the variants and delta and other variants potentially coming down the pipeline. that is the real question. so could we get everybody vaccinated and get back to normal in terms of our human engagement, these are the questions that are behind what is happening with inflation. but you don t have interna

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