On Wednesday’s broadcast of “NewsNation Now,” Lindy Li, a surrogate for the Harris-Walz campaign and member of the National Finance Committee, acknowledged the challenges of defining “price gouging,” a practice that 2024 Democratic presidential candidate Vice President Kamala Harris has vowed to ban.
Li noted that while the current economic situation is an improvement from four years ago, when supply chain disruptions led to widespread shortages, including a lack of toilet paper, the Biden-Harris administration has faced criticism for its handling of inflation.
Li emphasized that the administration is taking steps to address “greedflation,” a term used to describe companies that take advantage of inflation to increase prices unfairly. Li stated that the administration is working to hold accountable those who engage in such practices, including “shrinkflation,” where companies offer customers less product while maintaining the same price.
When asked about the challenges of defining price gouging, Li agreed that it can be difficult, but pointed to examples of companies, such as Kroger, that have increased prices at a rate faster than inflation. This, Li suggested, is a clear indication of price gouging.
The conversation then turned to the topic of the child tax credit, with host Connell McShane asking Li to provide more information on the issue.
