Examining President Biden’s economic strategies and their impact on inflation

President Joe Biden’s economic policies have faced criticism from speakers at the Republican National Conference. However, some of the assertions made were found to be misleading. During the conference, North Carolina Gov. Doug Burgum claimed that Biden’s regulations led to increased prices for gas, food, clothing, and rent. It is important to note that while Republicans and some economists have attributed higher inflation to Biden’s pandemic aid package, there is little evidence to support the idea that regulations are solely responsible for these price increases. Gas prices rose due to factors such as lower production levels post-pandemic and further escalated following Russia’s invasion of Ukraine in 2022. The war in Ukraine also impacted food inflation. While clothing costs have risen under Biden, red tape is not the main contributing factor. Regarding housing costs, experts point to a shortage of new construction and available homes for sale as the primary issue, with regulations impacting construction mostly at the state and local levels.