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Over the years, American presidents have tried, and mostly floundered, in their efforts to quell the economic and political menace of consumer inflation. Now, President Joe Biden is giving it a shot.
Over the years, American presidents have tried, and mostly floundered, in their efforts to quell the economic and political menace of consumer inflation. Now, President Joe Biden is giving it a shot.
Biden is trying to combat inflation as gasoline and food prices, in particular, have imposed a growing burden on American households.
LBJ tried jawboning
WASHINGTON (AP) — LBJ tried jawboning. Richard Nixon issued a presidential edict. The Ford administration printed buttons exhorting Americans to “Whip Inflation Now.’’