Biden’s Inflation Scapegoat Is “Profiteering”

Source: Reason
by Bruce Yandle

“When July’s all-item Consumer Price Index (CPI) registered 5.4 percent year-over-year growth — a level of inflation which essentially takes away a year’s income growth for low-wage earners — it was all but assured that the White House would offer comment, if not action. President Joe Biden was quick to call attention to accelerating meat prices and, looking for someone to blame, called out the country’s three largest meatpackers for ‘profiteering.’ … Perhaps there is some bad business behavior out there, but the source of the problem is inflation. And the source of inflation is — you guessed it — the federal government and its proclivity toward financing its spending with the power of the printing press.” (09/29/21)