In 2021, pollsters warned President Biden that inflation was ticking up following the shutdowns and the supply shortages that occurred during the COVID-19 pandemic. But the White House blew it off as it just being temporary. Then, when inflation increased, the president looked for a boogeyman to blame it on.
Going into 2022, President Biden blamed oil companies and mom-and-pop gas stations for the rise in gasoline prices, then tried to make it stick on the invasion from Russia into Ukraine. But polling showed that most Americans blamed Biden’s policies, not companies, for the higher cost of gas and food prices.
Now, with an election year and inflation costs ticking up again, team Biden is looking to repeat and blame business for the policies he helped create.
The White House has announced it is forming a “striker force” to target companies it deems not meeting their obligations regarding lowering prices for consumers.
Part of the formulation will involve the Department of Justice and the Federal Trade Commission. The White House says it wants to pursue businesses that engage in anti-competitive and unfair practices to lower prices in food, prescription drugs, and transportation.
“Even as prices have come down on important items like a gallon of milk and a dozen eggs, some corporations aren’t passing those savings on to consumers,” said the administration.
The administration also claims these companies are breaking the law. But while blaming corporations for the current inflation numbers, the White House hasn’t listed or mentioned a single company they believe is gouging the consumer.
“If there was price gouging going on, the State Attorney General would be all over this, instead its nothing more than a political gimmick to get voters’ attention off to who’s really at blamed for the higher cost of these goods,’ said financial commentator Tom Gaitens.
Legal analysts have noted what authority government regulators have when looking at companies and how they adjust to their pricing and the market.
