Our Government Is Ignoring Obvious Affordability Solutions

High prices have been the top concern among American voters for years – and for good reason. Although pandemic-era inflation has subsided, the Federal Reserve’s preferred gauge, the personal consumption expenditures index, remains stubbornly above its 2% target, and the war with Iran will ensure it goes even higher. With midterm elections approaching, Washington has raced to respond – with mostly terrible ideas.

As Bloomberg News reported this week, the Justice Department is investigating the pricing policies of US beef, egg, fertilizer, and seed producers. Last week, Treasury Secretary Scott Bessent not-so-subtly warned local gas station owners that his Department would keep them “honest” on fuel prices. The administration also wants to subsidize domestic fertilizer production, ban institutional housing investors, and regulate credit card interest rates.