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In a Tuesday episode of CNN Newsroom with Alisyn Camerota and Victor Blackwell, the hosts noted that Biden’s speech touting the success of the Inflation Reduction Act was ill-timed, noting the simultaneous stock market crash.
Earlier in the day, the latest consumer price index report was published, showing that inflation rose 8.3% in August from a year earlier. The Biden administration chose that afternoon to celebrate the Democrats’ Inflation Reduction Act on the White House lawn.
While Biden claimed that the Inflation Reduction Act was the “most important piece of legislation passed by Congress to combat inflation and one of the most important pieces of legislation in our nation’s history,” the Dow Jones Industrial Average plummeted in time. real amid concerns about rising prices, after having his worst day since june 2020.
At one point, CNN pulled its live coverage of the speech, noting the “unfortunate” footage of the president celebrating as the Dow took “a total beating.”
“Okay. You’re listening to President Biden in the White House. He’s celebrating the passage of the Inflation Reduction Act and saying he’s been fighting Big Pharma for decades,” Camerota began. “But there’s this unfortunate split screen right now with the Dow taking a total beating of over twelve hundred points and it seems like it’s hard to be a celebration for some people.”
His co-host, Blackwell, offered a similarly gloomy assessment. “Yes, this is the day that the White House celebrates the Inflation Reduction Act and a new report shows that inflation is especially high and what we are seeing on Wall Street is reaction to that anticipating what is coming from the federal “, he warned. “The decision that will come on whether to raise – they will probably raise, but by how much – interest rates another half point or three-quarters of a point. We have to see that in a few days.”
But CNN wasn’t the only network to back down from Biden’s speech.
MSNBC coverage cut off before the speech ended, shortly after Biden yelled at the audience. “Deadline: White House” host Nicolle Wallace called the president “feisty and enthusiastic” and instead focused on talking about the potential “historical interconnected drive to unearth and investigate the conduct of the “Trump, Twice Impeached Former President”.
Commenters on Twitter were quick to criticize the networks for their reactions to Biden’s speech.
NewsBusters news analyst Kevin Tober responded to Wallace’s segment, joking: “@NicolleDWallace’s Trump hatred runs so deep, he skipped Biden’s Inflation Reduction Act speech to obsess over investigations.” about Trump.”
Former CBS News White House correspondent Mark Knoller responded by noting, “Both CNN and MSNBC backed away from Biden’s inflation pitch. CSPAN doesn’t air either. He’s been shut out. Maybe it’s the aviator sunglasses he’s wearing.” “.