The Washington Post became the latest critic against President Biden’s economic policy on managing inflation.
On Monday, the editorial board published its op-ed titled, “The White House once again offers a bizarre message on inflation.” The editorial focused on the Biden administration’s handling of the ongoing inflation issues that continue to plague Americans. In particular, the editorial board took issue with Biden’s attempts to blame inflation on industries rather than his policies.
A sign on the shelf at a CVS store in Queens, New York. (Lindsey Nicholson/Universal Images Group via Getty Images)
“Inflation, which was relatively low for years, did not suddenly rise in recent months because businesses decided now was the ideal time to squeeze their customers. What actually happened is that demand soared for many products as the economy recovered. Often, there were not enough products to meet it, thanks to supply chain hiccups and labor shortages, so prices went up. In a surprise to many, consumers kept buying goods such as cars and washing machines even at higher prices,” the piece said.
Biden announced a plan to target a handful of meatpacking companies over rising meat prices. Industry leaders pointed blame at the labor storage and supply chain issues as the reason for the higher costs.
The Washington Post also critiqued the Biden administration’s assertion that inflation would only be “transitory” rather than an ongoing problem.
President Biden speaks about his Build Back Better agenda from the White House on Aug. 11, 2021. (AP Photo/Evan Vucci)
“What the White House is really struggling with is an inflation messaging problem. Officials’ initial insistence that higher prices would be short-lived flopped as annual inflation has been above 5 percent since June,” the editorial stated.
Several economists have called out Biden’s response to inflation as well as media pundits’ attempts to downplay or ignore economic issues. The Washington Post argued that Biden’s position would not improve until his argument changes.
“There may be legitimate reasons to look carefully at these industries and how they operate, but pinning the current inflation problems on corporate greed is a flimsy argument that won’t stop Americans from beefing about inflation,” the editorial concluded.
President Biden delivers remarks on the economy from the White House campus, Nov. 23, 2021. (AP Photo/Evan Vucci)
The Washington Post also recommended Biden take additional steps to “announce his nominees for the three seats on the Federal Reserve’s Board of Governors” and “to remind Americans that the pandemic is causing unusual strain on all of us.”
The Biden administration continues to face criticism for the supply chain crisis and rising inflation rates as exemplified by the recent #BareShelvesBiden Twitter trend.