Jeff Bezos (Amazon founder and billionaire), claimed that the US administration misunderstood the market.
After President Joe Biden had called for lower gasoline prices, he made the statement. In response, the White House criticized him for supporting corporations’ desire to cash in on Americans.
The White House cannot continue to make statements about inflation because it is too serious. This is either outright delusion, or a profound misinterpretation of the market’s dynamics.
Karine Jean-Pierre, White House press secretary, responded to Bezos via her official Twitter account. The price of oil fell by nearly $15 per month, while gas prices have not fallen. The spokesman said that this is not “underlying market dynamics”, but “a market failing American consumers”. This is how our economy should function.
Joey Biden stated previously that: “My message is to gas station operators, and price fixers at gas stations is simple: In these times of war and global peril to reflect the price you pay for the product, lower your price at a gas station. Do it now.
Elon Musk had previously criticized Joe Biden’s inflation-prone US federal government