A worker stores goods at a grocery store in San Francisco, California, May 2, 2022.
David Paul Morris Bloomberg | Getty Images
Meanwhile, the president Joe Biden also faced a reversal due to prolonged inflation and plans to address the issue.
Twitter exchange between Biden and Amazon founder Jeff Bezos started on Friday when the president wrote in a tweet“Do you want to lower inflation? Let’s make sure the richest corporations pay their fair share.”
Citing Biden’s tweet, Bezos answered“Raising taxes on businesses is good to discuss. Taming inflation is very important to discuss. Mixing them together is just the wrong direction.”
Bezos further criticized The White House strategy tweeted Sunday that the U.S. rescue plan is $ 1.9 trillion. signed last March, contributed to rising inflation. He also commented on how rising prices are most difficult for poor families.
Transport Minister Pete Butigic responds to Bezas’ criticism of the administration’s inflation policy on Monday on CNBC.Squawk Box».
“The president’s theory about the economy will probably never become popular among billionaires for the simple reason that he urges them to pay a fair share,” he said.
“With the right kind of public investment, we can pursue some things that we know contribute to inflationary pressures,” Butigig added.