Biden has blamed the oil industry for the increase in gas prices. Other business broadsides could be coming.
, but said: “I think that strategy can be expanded through resources the White House has to do a broader and more urgent investigation into rising prices in key industries for consumers and identifying excess profits that’s resulting in. They should do that now.”
“This is just a fantasy — there’s no corporate consolidation that explains it,” said Douglas Holtz-Eakin, a Republican policy analyst. “This is just an attempt to change the subject.”The White House has found itself hemmed in on short-term price pressures even amid the advancements of the bipartisan infrastructure law and social spending bill — which are primarily intended to address long-term structural problems in the economy.
White House meets with Fed chief and Fed governor, as decision to appoint head of Federal Reserve nears “President Biden must appoint a Fed Chair who will ensure the Fed is fulfilling its mandate to safeguard our financial system and shares the Administration’s view that fighting climate change is the responsibility of every policymaker,” Merkley and Whitehouse said. “That person is not Jerome H. Powell.”Despite the internal divisions, the White House was buoyed Friday by passage through the House of the Build Back Better legislation.
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