Labor Sec. Walsh: What OPEC Has Done Shows that We Need To Be Less Reliant on Foreign Energy

EXCERPT:

WALSH: "Well, certainly I think that, you know, the plans that the President put out there to tackle inflation in a lot of cases are working. We're seeing it come down incrementally. We’d like to see it come down more than that. Certainly the supply chain issue added a bit concern to the inflation numbers. Obviously gas, what OPEC has done now, is disappointing, certainly to the President and to us, but it also just points out that we need to be less reliant on foreign energy, we need to continue to move forward. You know, some of the things that the Fed have done, certainly you add what the Fed is doing and what Treasury is doing, what we're doing as an administration collectively together, we’ll hopefully continue to see these inflationary pressures come down where we don’t go into recession. I mean, I personally, you know, when you say recession, you can’t compare this moment in time to any other period in the past when we talk about recessions because we’re coming off a worldwide catastrophe and a global pandemic. So, the pressures are different. You know, we’re not the only country in the world, obviously, dealing with this. European countries are dealing with this as well."