Commentary: The Inflation Reduction Act leaves out #inflation

Today, President Joe Biden heaped praise on Senator Joe Manchin, Democrat of West Virginia, and Senate Minority Leader Mitch McConnell, … More

Elizabeth Warren’s bill almost gives Joe Biden some cover … almost.

To Mrs Warren’s credit, she is two-thirds of the way in meeting her thinly-veiled objective which is to provide Joe Biden and the Democrats with as much cover as possible going into the mid-terms. The objective here is to separate the Democrats from the inflation problem by providing a legislative initiative while reminding the electorate that the management of the money supply, the real cause of inflation, is in the Federal Reserve’s lane.

Georgia’s congressional Democratic representatives tout the political not economic narrative on inflation.

The narrative has been disingenuous on the part of Mr Biden and on the part of Georgia Democrats. Their lane is a political lane and over 100 years ago, Congress decided that the money vehicle would not be driven in the political lane. Saying that they can do something about inflation while acknowledging the money supply is the responsibility of the Federal Reserve only confuses voters.