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Liam Denning

Drivers Are Angry With Biden. What About Powell?

People always blame presidents for high gas prices. But rising interest rates are also pushing up the monthly cost of having a car.

The monthly cost is going up.

The monthly cost is going up.

Illustration: Jessica Karl

I normally visit the gas station in something of a fugue state, blocking out all sensory information. But even I have noticed two things of late. One is round-number readouts on the pump display, indicating that the previous customer targeted a dollar amount rather than filling up (hat-tip to Dan Pickering of Pickering Energy Partners for that one). The second is a proliferation of droll little stickers on pumps depicting President Joe saying “I did that!” and pointing his finger at the price window.

Both speak to the pain caused by $5-ish gasoline and to the blame heaped on US presidents for any price increase. But drivers might also be feeling not too warm and fuzzy toward another official nearby the White House: Federal Reserve Chair Jerome Powell.