Blame Businesses More Than Biden for Inflatio

Last Updated on March 13, 2024 by Robert C. Hoopes

President Joe Biden is gaining traction in holding large corporations accountable for the rising inflation rates, with a recent poll revealing that 63% of survey respondents blame these companies for the price hikes. Despite this, Biden’s handling of the economy is still facing disapproval from 59% of respondents, although this number has slightly decreased since November.

In response to the inflation concerns, Biden has begun cracking down on corporations that engage in price gouging or deceptive pricing practices. The consumer price index rose by 0.4% in February, mainly driven by the increasing costs of housing.

Despite these challenges, consumer confidence has experienced a significant turnaround, with sentiment reaching the same level as when Biden initially took office. Biden’s economic platform includes implementing aggressive antitrust measures, cracking down on junk fees, and enforcing new drug pricing regulations.

As the November election approaches, Biden is gearing up for economic challenges from former President Donald Trump, who has been critical of Biden’s economic policies. Trump has proposed universal import tariffs, which could potentially raise consumer prices. Additionally, Trump has suggested cuts to Social Security, Medicaid, and Medicare, sparking a response from Biden that he will not allow such measures to take place.

Overall, Biden continues to navigate through economic challenges and is focusing on holding corporations accountable for the rising inflation rates. His next hurdle will be to address criticisms from Trump and to continue implementing policies that benefit consumers and the overall economy.