White House must address our inflation
The Associated Press accurately summed up the circumstances in one word: alarming.
Under the key measurement the Federal Reserve uses to determine the severity of inflation, in January inflation rose at its fastest pace since June.
On a year-over-year basis, the Associated Press reports, prices were up 5.4 percent.
The trend dashes economists’ hopes that inflation was decelerating.
But for too long, hope has simply played too great a role in how the inflationary pressures on middle-class and working-class families are being addressed.
The Biden Administration’s response, as we’ve repeatedly editorialized, has been lackluster and oblivious to the burdens inflation is placing on Americans.
We appreciate that Republican majority in the House is willing to address this important issue.
We hope that discussion would galvanize the White House to finally turn more of its attention to inflation.
But it’s still the Republican majority in the House that is empathizing with the burden these increased costs are placing on American families.
And the nonchalance in the White House deferring to the Federal Reserve and its vastly imperfect solution of higher interest rates, the inability of the White House to recognize the pain and stress on American families and to offer compromises both sides can pursue to lessen that pain and stress is exasperating.
We hope that finally, after nearly two years, the White House will place this issue at its forefront.
We also recognize that there is no excuse for the past failures to do so.
