Democratic Rep. Ro Khanna says Biden can do ‘way more’ to fight inflation
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President Joe Biden can do extra to fight inflation and wishes to take motion quickly, Rep. Ro Khanna, D-Calif., mentioned Thursday.
Khanna broke with Biden on inflation in a Thursday op-ed within the New York Times, arguing the president’s options to inflation are merely “reacting to headlines.”
“I support the president’s efforts, but we need a bolder vision and faster action,” Khanna wrote.
“To meet the moment, Mr. Biden should convene an emergency task force empowered to lower prices and address shortages. We need an all-out mobilization, not just a few ad hoc initiatives reacting to headlines,” he added.
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President Joe Biden speaks about inflation and the financial system on the White House campus, May 10, 2022.
Khanna went on to say that Treasury Secretary Janet Yellen, Secretary of Agriculture Tom Vilsack, Secretary of Transportation Pete Buttigieg and Secretary of Energy Jennifer Granholm ought to comprise the duty power, together with representatives of state and native governments and business leaders.
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The process power might decrease costs by buying meals and gas throughout world value dips and reselling it cheaply to Americans, Khanna argues.
Biden laid out his three-point plan to tackle inflation within the wall St. Journal on Monday. The plan largely calls on the Federal Reserve and Congress to deal with the difficulty, nevertheless, and there may be little government motion on Biden’s half.
The plan exhibits the bounds on what U.S. presidents can do to tackle financial points like inflation unilaterally.
Biden’s Republican critics proceed to blast his administration’s response to inflation. The Republican National Committee (RNC) accused Biden of “lying” in regards to the causes of and options for inflation in his Memorial Day op-ed.
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“After one of the most expensive Memorial Day weekends on record, Biden is lying to hardworking Americans about the economy,” the RNC mentioned in an announcement to FOX Business. “Under Biden, inflation and gas prices have only gone up and families are struggling to afford basic needs as a result. Despite what Biden and the Democrats say, the economy is declining steadily on their watch as families can’t afford everything from gas to groceries.”
