As I write this, the new inflation figures are less than half-an-hour old (8.2% for the year [1]). Political Twitter is still too Alex-Jones-obsessed at 8:50 AM to notice (they’ll get there).
Still, it’s as good a time as any to remind the Biden Administration that it can alleviate some of the problem with some executive-action supply-side reforms. I repeat myself [2] below.
- Reverse All Trump Tariffs, especially those on inputs from our own allies, which needlessly raised production cost.
- Defer All Jones Act Enforcement and ask Congress to repeal the act entirely.
- Reverse All Trump Immigration Restrictions to alleviate the labor shortage.
- Rejoin the Trans Pacific Partnership, and
- Support nuclear energy – especially by reversing the ban on nuclear recycling to reduce demand for fossil fuels, thus ensuring lower prices at the gas pump and less carbon dioxide in the atmosphere.
When can Biden implement these, you ask?
Now.
When should he?
Now.