Inflation is soaring at rates not seen in a generation. Policy reforms in housing, labor, trade, food, and energy could ease the record inflation now hitting American families and businesses without artificially distorting markets. Misguided government intervention can exacerbate supply and demand issues, drive up prices, and prevent markets from efficiently responding to existing challenges. Sadly, instead of fighting inflation, Washington sits idly by or, worse, pushes misguided legislation such as Biden’s Build Back Better Act that would make inflation worse. Policy negligence leaves inflation to an increasingly overwhelmed Federal Reserve, a playbook that turned to disaster in the 1970s. As this leadership void continues, Americans stand alone to suffer the crushing effects of inflation. By adopting the policy reforms outlined here, policymakers would ease inflationary concerns and enable Americans to get more from their hard-earned money.
For decades, the federal government has imposed numerous policies and mandates that have increased the prices that Americans pay for goods and services.
Policy-driven inflation has now accelerated over the past year and will only worsen if Congress passes the euphemistically titled “Build Back Better” Act.
Congress should pass reforms that deliver inflation relief right now for Americans struggling financially, especially in light of existing supply-chain problems.
