Nancy Pelosi: ‘So much is being done’ by Biden on inflation, must ‘make sure public sentiment understands’

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Nancy Pelosi: High gas prices have 'something to do with the war in Ukraine, but not everything'

Nancy Pelosi said on MSNBC's "Morning Joe" on Tuesday that record high gas prices "have something to do with the War in Ukraine, but not everything."

Speaker of the House Nancy Pelosi discussed inflation and gas prices on MSNBC's "Morning Joe" Tuesday, claiming, "So much is being done by this president, we have to make sure that public sentiment understands that."

The House Speaker was asked about President Biden's plummeting approval rating and an NBC Poll that found 75% of Americans believe the country is heading in the wrong direction. 

"How do you overcome that when the country, it looks like, says, ‘Democratic president, Democratic Congress, and I don’t like where we’re headed?’" Co-host Willie Geist asked. 

"The American people have said they have a comfort level with their economic situation," Pelosi said after pointing to the Federal Reserve's Economic Well-Being of U.S. Households report, which found that 68% of Americans said that they could cover the cost of a $400 emergency in 2021. 

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Nancy Pelosi appeared on "Morning Joe" on Tuesday to discuss inflation.  (AP Photo/J. Scott Applewhite)

The survey was conducted in October and November 2021, and found that 78% of adults "reported either doing okay or living comfortably financially" at the end of 2021. Inflation hit 8.3% in April after a 40-year high of 8.5% in March.  

Pelosi then pivoted to "kitchen table issues."

"In terms of inflation, so much is being done by this president, we have to make sure that public sentiment understands that," the House Speaker said. 

"Supply is down, so prices are up. We passed the other day two bills in terms of price gouging and market manipulation. Bring down the cost of price at the pump. That has something to do with the war in Ukraine, but not everything. But a good deal of it," she said. The national average gas price per gallon was $4.59 on Tuesday. 

Nancy Pelosi said on "Morning Joe" on Tuesday that high gas prices were mostly due to the war in Ukraine.  (Photo by SAUL LOEB/AFP via Getty Images)

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Pelosi said in March that government spending was not contributing to inflation and was "reducing the national debt." 

"We’re paying very close attention to it, but this starts with Putin," she said on March 13. 

Gas prices have continuously hit record highs over the last two weeks. President Biden, during a speech in Japan on Monday, claimed the administration has helped prevent gas prices from getting worse. 

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"When it comes to the gas prices, we're going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over," Biden said.