Ryan Teague Beckwith is a newsletter editor for MSNBC. He has previously worked for such outlets as TIME magazine, Bloomberg News and CQ Roll Call. He teaches journalism at Georgetown University's School of Continuing Studies.
Consumer prices are still higher than normal. Voters hate inflation and typically blame incumbents for it. And there's very little that a president can do to fix this. The combination of these three factors may be the most significant policy problem facing President Joe Biden's re-election campaign.
In his remarks, he cited an estimate from the White House Council of Economic Advisers that eliminating the various fees targeted by the Biden administration would save consumers $20 billion annually and facilitate comparison shopping to potentially save even more. His rhetorical framing showed another benefit to this approach. 'Folks at home, that’s why the banks are so mad,' he said in an unscripted aside. 'It’s $20 billion in profit.
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