Democrats' Muscle-Flexing on Inflation Meets Reality and There's No Easy Fix
- Economists say there’s little Congress can do on rising costs
- Patience and the Fed are the best remedies, Furman says
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Congressional Democrats’ strategy to address rising costs through a gas-tax holiday and other legislation are shaping up as more of a political crutch than an inflation cure ahead of the midterm elections.
The proposals may set up legislative fights positioning Democrats on the side of relief for consumers, but economists are skeptical there’s much Congress can do to tamp down the inflationary pressure pumping up prices.