Vice President Kamala Harris is set to deliver a speech on Friday that will attempt to shift the blame for the country’s inflation woes from the Biden administration to the private sector. By focusing on price-gouging, Harris hopes to distance herself from the unpopular economic policies of the administration and reframe the issue as a problem of corporate greed.
The move comes as inflation appears to be cooling, with some experts predicting a possible interest rate cut by the Federal Reserve before the election. However, Harris and other Democrats are aware that the high cost of living remains a major liability for the administration, particularly compared to the economic conditions during the Trump presidency.
In a preemptive strike, former President Donald Trump appeared at his New Jersey property on Thursday, surrounded by basic grocery items that have increased in price under the Biden administration. Trump criticized Harris’s pledge to address high prices, saying, “Day one for Kamala was 3 1/2 years ago. Where has she been?”
Sen. J.D. Vance, Trump’s running mate, also attacked Harris’s economic record, saying, “Kamala, ‘day one’ was January of 2021 — ‘day one’ was four years ago!” Vance argued that the administration’s policies have led to unaffordable living costs for many Americans.
The debate over inflation has been ongoing, with Biden arguing that the government can alleviate the cost of living through subsidies and regulations, while Republicans blame high federal spending, particularly the American Rescue Plan. However, Harris’s speech is expected to focus on the role of corporate greed in driving up prices.
According to reports, Harris’s approach will be light on details but will emphasize the need to rein in the cost of living. While the speech is expected to break with Biden’s focus on job creation and manufacturing, it is unlikely to deviate significantly from the administration’s overall economic policies.
Harris’s goal is to distance herself from the unpopular aspects of the Biden administration and redefine herself as a different kind of Democrat. By focusing on price-gouging, she hopes to narrow the gap with Trump and improve her chances in the November election.
