• President Biden’s new executive order on solar panels, and Americans’ economic pessimism.
• Commerce Secretary Gina Raimondo reiterated that inflation will fall, but she avoided addressing the suggestion that she was incorrect to label it “temporary” nearly a year ago.
• Prices have jumped 59 cents in the last month, from an average of $4.28 a month ago.

Another top Biden administration official is optimistic about inflation. We’ll also look at how gas prices continue to rise, President Biden’s new executive order on solar panels, and Americans’ economic pessimism.

On Sunday, Commerce Secretary Gina Raimondo reiterated that inflation will fall, but she avoided addressing the suggestion that she was incorrect to label it “temporary” nearly a year ago.

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When CNN “State of the Union” co-anchor Jake Tapper asked Raimondo why the Biden administration appeared to be “flat footed” in addressing inflation earlier, Raimondo pointed to job creation and salary gains since President Biden took office.

“Yes, inflation’s a problem. In no way do I want to minimize that. The Fed is independent,” she said. “But, fundamentally, what we have here is a robust, economic recovery. And I think that’s in large part due to the president’s leadership.”

The average price of gasoline in the United States has jumped by 25 cents in only one week, adding to consumer and Biden administration concerns.

According to AAA, the average nationwide price was roughly $4.87 per gallon on Monday, up from $4.62 only one week ago.

Prices have jumped 59 cents in the last month, from an average of $4.28 a month ago.

The increased increase was due to demand outstripping supply, with recent “robust” travel on Memorial Day weekend pushing greater demand in the United States.

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Prices rose 45 cents in Michigan, 41 cents in Illinois, and 41 cents in Indiana over the previous week, with the Midwest seeing the greatest rises. Overall, California had the highest pricing, averaging $6.34 per gallon.

Russia’s ongoing invasion of Ukraine has kept global oil prices high, as has restricted processing capacity in the United States.

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