GERALD FORD tried to address double-digit inflation with pep rallies and feel-good rhetoric calling for farmers to plant more crops, or vowing to prosecute any price fixing. RICHARD NIXON imposed a 90-day freeze on wages and prices inflation nevertheless spiraled to 11% by mid-1974. JOHNSON tried to “jawbone” companies and unions to hold down wage and price increases, to no avail. “Presidents have almost no power to ease the pain of inflation, and the voting public cuts presidents no slack at all because of that impotence,” he writes.

A pair of stories this morning in POLITICO, however, underscores why those claims are probably wishful thinking.ġ) BIDEN’S ‘EMPTY INFLATION TOOLBOX.’ Jeff Greenfield lays out how inflation has “kneecapped” past presidents again and again - and they’ve been unable to do anything about it. The White House has tried to frame the president’s agenda as a long-term answer to inflation. But rising voter concern about inflation has cast a pall over President JOE BIDEN’s victory lap.

It was all smiles and selfies at the White House on Monday as Democrats celebrated passage of the bipartisan infrastructure deal.

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