Biden adviser: Delta, Omicron variants and Putin to blame for economy

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Biden adviser points finger at pandemic, Putin as inflation hits new record high

Senior advisor to President Biden Gene Sperling sits down with Martha MacCallum to debate the state of the economy, inflation, and foreign policy under the administration on 'The Story.'

Senior adviser to President Biden Gene Sperling sat down with Martha MacCallum Thursday to debate and discuss economic policies under the administration's leadership on "The Story."

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MARTHA MACCALLUM: When you look at the reaction to these numbers, the question that keeps coming up again and again is that the messages that we've received from all levels of the White House and Treasury have been wrong. So how did you all get this so wrong?

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GENE SPERLING: Well, Martha, the things that the White House and the Treasury Department were saying last year and I can't stress this enough, reflected the overwhelming economic consensus in the private sector in the U.S. and other places around the world. 

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It wasn't so much, it wasn't that people were wrong with the facts they had. It's that things happened after that that affected the outcome. So we had not just Delta, but then Omicron. We had gas prices at $3.31 on January 17th when Putin first started doing military exercises in Belarus.

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WATCH THE FULL INTERVIEW HERE:

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