Steve Rattner served as counselor to the Treasury Secretary in the Obama administration. Rattner: Without declines in gas prices, “you would have had inflation at around a [0.5] rate” He said most of the decline in gas price is due to falling demand, such as people in the U.S. driving less. He added that even if prices didn’t go up at all the rest of this year, we’d still have 6.5% inflation this year’s rate, still a little bit — still a bit more than what we want, Rattner said. “It is kind of un-American to be against falling gas prices and to be unhappy when gas prices fall.’ . . .
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