Biden price hike? The nexus of foreign policy and economic crisis

Source: Responsible Statecraft
by Kevin Cashman

“The Biden administration’s agenda is in crisis. Kitchen table issues, like high food and gas prices as well as an economic slowdown, are threatening his domestic agenda. With uncertain prospects for the midterm elections, legislative efforts related to climate change, and many other issues are in existential jeopardy. Biden’s foreign policy regarding Russia and Ukraine is part of the problem — especially his use of sanctions. Even with substantial notice of Russia’s invasion of Ukraine, the Biden administration did not seem to consider the impact that spillover effects of war — and of the U.S. response — would have on the global economy, which was still reeling from the pandemic. While Biden is not responsible for Russia’s brutal invasion, he is responsible for the effects of Washington’s policy and in a position to help address the negative effects of the war in general.” (07/26/22)