economics-politics1.41 min read "Biden Condemns 'Shrinkflation' as White House Targets Price Gouging"
National Economic Council Director Lael Brainard blames higher consumer prices on "shrinkflation," a practice where consumer brands reduce product sizes while keeping prices the same, as the latest battlefront of President Joe Biden's corporate pressure campaign. The White House and Biden's 2024 reelection campaign have touted inflation recovery as a key accomplishment of his economic agenda, but consumers have yet to feel the relief on their wallets and blame Biden for it, while Biden points the finger at corporate price-gouging tactics as the real driver of sticky high prices.
2 years ago•Source: CNBC
