Skip to main content
Tags: inflation | biden | economy | grassley | manchin

Republican Senators Call Biden 'President of High Prices'

Republican Senators Call Biden 'President of High Prices'
President Joe Biden. (Alex Wong/Getty)

By    |   Wednesday, 16 February 2022 06:27 PM EST

A number of Republican senators say President Joe Biden's policies are driving inflation higher, and they are urging his administration to do something about it.

''Joe Biden is the president of high prices, and one of the defining failures of the Biden presidency is going to be inflation,'' Sen. John Barrasso of Wyoming told reporters on Wednesday at the Capitol.

''I think the best thing that Biden could do would be to use the bully pulpit to tell Congress to spend less, like [West Virginia Sen. Joe] Manchin has advised his own Democrats to do, and he's led the way on that,'' Sen. Chuck Grassley of Iowa said, ''because only the bully pulpit can bring confidence to the economy the way that the 100 members of Congress can.''

The senators have also proposed reversing the Keystone XL pipeline shutdown, moving forward with an Alaska drilling project and ending the COVID-19 emergency declaration.

''We can do better than this, and the American people certainly deserve better than this,'' Sen. Cindy Hyde-Smith of Mississippi said Wednesday.

Biden is trying to remedy the 7.5% inflation rate with 72 different initiatives, on issues as varied as new rules for cellphone repairs to regulations on meatpacking, according to The Associated Press.

The nation's inflation woes stem in part from the COVID-19 pandemic. Supply chains for computer chips, clothes, furniture and other goods are under stress. At the same time, consumer demand has surged after a historic amount of government aid flowed into the economy.

Despite efforts to get the kinks out of the supply chain, price increases have stayed high in recent months rather than fading as many initial forecasts had suggested. That has the Federal Reserve ready to raise interest rates to reduce inflation.

''The dynamics of the modern American economy — the increased consolidation and lack of competition — has distorted market incentives in important ways,'' said Brian Deese, director of the National Economic Council.

''The president gave us the direction that he wanted us to come back and say what could we do to address this issue of consolidation across industries in a way that would be durable.''

Information from The Associated Press was used in this report.

Solange Reyner

Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.

© 2024 Newsmax. All rights reserved.


Politics
A number of Republican senators say President Joe Biden's policies are driving inflation higher, and they are urging his administration to do something about it.'
inflation, biden, economy, grassley, manchin
364
2022-27-16
Wednesday, 16 February 2022 06:27 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved