WASHINGTON (AP) President Joe Biden came into office with a plan to fix inflation just not the particular inflationary problem that the country now faces. His belief is that a cluster of companies control too many industries, which reduces competition for both customers and workers.
President Joe Biden came into office with a plan to fix inflation but not the particular inflationary problem that the country now faces. His belief is that a cluster of companies control too many industries, which reduces competition for both customers and workers. That leads to higher prices and lower wages. The White House says that costs an average of $5,000 annually for U.S. families. Biden is now trying to remedy the situation with 72 distinct initiatives. But even administration officials acknowledge that the initiatives outlined by the president’s competition council won’t stop the 7.5% inflation that’s frustrating Americans and damaging Biden’s popularity.