Former President Donald Trump wrongly stated inflation is “probably the worst in our nation’s history” during Tuesday’s debate with Vice President Kamala Harris—repeating the false claim he frequently makes to criticize President Joe Biden’s economic policies, though inflation has been higher than usual in recent years.
by Sara Dirn
Forbes
Harris has promised to tamp down on “price gouging” if she’s elected, as the Biden-Harris administration has sought to blame inflation partly on what Democrats have referred to as “greedflation,” accusing companies of selling a smaller amount of goods for the same price. Some research (such as a study by the Federal Reserve Bank of San Francisco) shows that markup patterns over the past three years were on par with previous recoveries. Some economists also say general cost-reduction mechanisms could be counterproductive, and price-gouging restrictions are unnecessary as inflation has cooled.