Biden-Bezos feud

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Biden has frequently used Amazon as a foil as he pushes for higher taxes on the richest Americans and big companies to help fund his economic agenda, and he recently vocally backed unionization efforts at the company.

But Bezos’s tweets accusing the president of “misdirection” and of risking worse inflation with his economic proposals, and the White House’s sharp response, marked an escalation in what has become an increasingly adversarial relationship.

“It doesn’t require a huge leap to figure out why one of the wealthiest individuals on Earth opposes an economic agenda for the middle class that cuts some of the biggest costs families face, fights inflation for the long haul, and adds to the historic deficit reduction the President is achieving by asking the richest taxpayers and corporations to pay their fair share,” deputy White House press secretary Andrew Bates said in a statement.

“It’s also unsurprising that this tweet comes after the President met with labor organizers, including Amazon employees,” Bates added.

Bezos shot back on Monday afternoon, accusing the White House of trying to change the topic and again hitting its economic policy.

“Remember the Administration tried their best to add another $3.5 TRILLION to federal spending,” Bezos tweeted. “They failed, but if they had succeeded, inflation would be even higher than it is today, and inflation today is at a 40 year high.”

Biden-Bezos feud escalates

A simmering feud between President Biden and Jeff Bezos has spilled into the open after the Amazon founder went on the offensive to criticize the White House’s approach to inflation and taxing weal…

thehill.com

 

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Biden Admin Tries To Clap Back At Jeff Bezos Over Criticisms, Fails Miserably​

The Federal Reserve Bank of Dallas noted that gas prices remaining high despite a slight decrease in the price of a barrel of oil can be “attributed to events in the U.S. retail gasoline market beyond the control of oil producers.”

The institution added:

Moreover, the asymmetry of the response of retail gasoline prices need not be evidence of price gouging. One potential explanation is that station operators are recapturing margins lost during the upswing, when gas stations were initially slow to increase pump prices. The reluctance to lower retail prices also likely reflects concerns that oil prices—and, hence, wholesale gasoline prices—may quickly rebound, eating into station profit margins.
Another possible reason for this asymmetry is consumers’ tendency to more intensively search for lower pump prices as gasoline prices rise than when they decline. This diminished search effort provides further pricing power to gas stations, causing prices to fall more slowly than they rose. This has prompted researchers to liken the response of gasoline prices to higher oil prices to a rocket—and the response to lower oil prices to a feather.
Yet another potential explanation for this asymmetry is that seasonal demand tends to increase as the weather warms, supporting higher retail prices.

 

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Biden’s Latest Attempt to Shift Blame for His High Gas Prices Is So Bad Even Jeff Bezos Called It Misdirection (or Stupidity)​

 

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