President Joe Biden can do more to fight inflation and needs to take action soon, Rep. Ro Khanna, D-Calif., said Thursday.
Khanna broke with Biden on inflation in a Thursday op-ed in the New York Times, arguing the president’s solutions to inflation are merely “reacting to headlines.”
“I support the president’s efforts, but we need a bolder vision and faster action,” Khanna wrote.
“To meet the moment, Mr. Biden should convene an emergency task force empowered to lower prices and address shortages. We need an all-out mobilization, not just a few ad hoc initiatives reacting to headlines,” he added.
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Khanna went on to say that Treasury Secretary Janet Yellen, Secretary of Agriculture Tom Vilsack, Secretary of Transportation Pete Buttigieg and Secretary of Energy Jennifer Granholm should comprise the task force, along with representatives of state and local governments and business leaders.
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The task force could lower prices by purchasing food and fuel during global price dips and reselling it cheaply to Americans, Khanna argues.
Biden laid out his three-point plan to address inflation in the wall St. Journal on Monday. The plan largely calls on the Federal Reserve and Congress to handle the issue, however, and there is little executive action on Biden’s part.
The plan shows the limits on what U.S. presidents can do to address economic issues like inflation unilaterally.
Biden’s Republican critics continue to blast his administration’s response to inflation. The Republican National Committee (RNC) accused Biden of “lying” about the causes of and solutions for inflation in his Memorial Day op-ed.
“After one of the most expensive Memorial Day weekends on record, Biden is lying to hardworking Americans about the economy,” the RNC said in a statement to FOX Business. “Under Biden, inflation and gas prices have only gone up and families are struggling to afford basic needs as a result. Despite what Biden and the Democrats say, the economy is declining steadily on their watch as families can’t afford everything from gas to groceries.”