joedlrt wrote:
What you're not grasping is a good chunk of the inflation we are experiencing is by design. Biden's executive orders regarding energy production are aimed to make electricity, natural gas and petroleum products more expensive (in order to make their new energy economy work they have to triple wholesale electric costs and find a way to reduce the cost of long-term energy storage by 90%). He could cut into inflation tomorrow by simply softening his policies on fossil fuels. But he won't, so the Fed will continue to raise rates until they break the economy.
Inflation is a global crisis right now. Supply chains were disrupted badly during the pandemic and have not recovered. Nearly every country in the world has been running huge deficits for many years, US included. That makes the value of money lower. Fuel prices are much more driven by OPEC and Russia than any US policy. Biden or any other President can't fix inflation alone.
Biden released oil reserves in an attempt to alleviate oil prices. This is a government subsidy to the oil industry and they are keeping record profits rather than helping Americans. The incentives for electric vehicles were overhauled and actually removed MOST of the cars on the list for tax rebates until they make more in America. Money was allocated to move more computer chip manufacturing to the US. What other policies are you talking about and how would Trump (since this is a thread about his Presidential run) or any other republican do better?