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OPINION

THE TIMES DEMAND SERIOUS ECONOMIC IDEAS. HARRIS SUPPLIES GIMMICKS.

‘Price gouging’ is not causing inflation. So why is the vice president promising
to stamp it out?

4 min
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Vice President Kamala Harris appears at a campaign event at the Georgia State
Convocation Center in Atlanta on July 30. (Demetrius Freeman/The Washington
Post)
By the Editorial Board
August 16, 2024 at 6:28 p.m. EDT

Vice President Kamala Harris’s speech Friday was an opportunity to get specific
with voters about how a Harris presidency would manage an economy that many feel
is not working well for them. Unfortunately, instead of delivering a substantial
plan, she squandered the moment on populist gimmicks.


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politics


Americans are clearly still anxious and angry about the high cost of groceries,
housing and even $5.29 Big Macs. While the inflation rate has cooled
substantially since the 2022 peak, an ostensible Biden-Harris administration
accomplishment, prices remain elevated relative to the Trump years. So it’s a
real political issue for Ms. Harris. One way to handle it might be to level with
voters, telling them that inflation spiked in 2021 mainly because the pandemic
snarled supply chains, and that the Federal Reserve’s policies, which the
Biden-Harris administration supported, are working to slow it. The vice
president instead opted for a less forthright route: Blaming big business. She
vowed to go after “price gouging” by grocery stores, landlords, pharmaceutical
companies and other supposed corporate perpetrators by having the Federal Trade
Commission enforce a vaguely defined “federal ban on price gouging.”


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