Former Obama adviser says 'inflation is here to stay,' predicts November will be a 'tough one' for Democrats

Steve Rattner, a former Treasury Department official under the Obama administration, predicted Thursday that Americans wouldn't see the end of the inflation crisis anytime soon.Steve Rattner, a former Treasury Department official under the Obama administration, predicted Thursday that Americans wouldn't see the end of the inflation crisis anytime soon.During an appearance on MSNBC's "Morning Joe," Rattner declared, "Inflation is here to stay," and argued it would be "the defining issue" in the upcoming midterm elections, making November "a really tough one" for Democrats. (Photo by SAUL LOEB/AFP via Getty Images)WAPO EDITORIAL BOARD SLAMS BIDEN'S 'MAGICAL THINKING ON INFLATION'He explained, however, that gas prices were having big impact on the inflation rate and pointed to them reaching record highs in March as inflation hit a 40-year high, but then dipped in April as the inflation rate saw a slight dip.He added that if you removed gas prices from the calculation, the inflation rate for April would actually have been 0.4% higher than the massive 8.3% recorded rate."Look, the president has been blaming everything except himself and the Democrats for the inflation," Rattner said, arguing the only element in Biden's favor was that inflation is "a worldwide phenomenon."