Column: American economists and consumers didn't understand inflation during its recent surge. They still don't [Los Angeles Times (CA)]
Kroger Company (The) (KR)
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Source: Los Angeles Times
of eggs and blaming Democratic presidential candidate Kamala Harris for driving the cost of this staple up to $4 per dozen. That's “thanks to Kamala Harris' inflationary policies,” Vance states. “It's because she cast the deciding vote on the Inflation Explosion Act.” A few points about that: As multiple observers pointed out within moments of the video's appearance on social media Saturday, the price tag on the packages of a dozen eggs directly behind him wasn't $4, but $2.99. Also, of course, the legislation he's referring to is the Inflation Reduction Act of 2022, which passed the Senate without a single Republican vote, and on which Harris was permitted by the U.S. Constitution to cast a tie-breaking vote. Also, the reason egg prices are where they are today has nothing to do with the legislation, but with the bird flu, which first struck in early 2022 and has necessitated the slaughter of more than 90 million chickens Finally, inflation didn't “explode” following passag
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