The NPR Politics Podcast Prices Are Rising. Who's To Blame?
Aug 5, 2021
Rising prices are affecting everything from gasoline to used cars, fueling a heated debate on the causes of inflation. Experts dissect the complex relationship between supply and demand, federal monetary policy, and public perception. The political landscape is shifting as inflation influences voter concerns and shapes the Biden administration's economic agenda. Republicans are leveraging inflation fears to challenge Democrats, while discussion around the sustainability of current inflation grows as midterm elections loom. It's a dynamic interplay of economics and political strategy.
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Voter's Inflation Concerns
- Lori LaPena, a Republican, noticed rising prices after Biden's inauguration.
- She attributes the rising costs to Biden's policies and expresses concern about future expenses.
Inflation Drivers
- Economist Larry Summers points to high demand and limited supply as the primary driver of rising prices.
- He highlights the collision between government stimulus, pent-up savings, and supply chain constraints.
Pandemic's Impact on Prices
- Brenda Peters blames the pandemic's economic disruption for the price increases, not Biden.
- She hopes that increased supply will eventually lower prices.