Biden's 'Shrinkinflation' Stance Is A Bid To Win Back Independents, Former Presidential Candidate Claims

In a recent interview, former presidential candidate Andrew Yang suggested that President Joe Biden’s recent anti-corporate stance is a strategic move to regain the support of independent voters.

What Happened: In a CNBC interview on Monday, Yang noted that Biden’s administration is currently facing challenges with independent voters. He suggested that Biden’s recent call for corporations to address “shrinkflation” is a political strategy to win back these voters.

Yang stated, “They’re gonna have to keep making this case around the country because the Biden administration is underwater with independents who are going to decide this November’s election.”

See Also: US Inflation Rate Runs Hot In January, Puts Fed Rate Cut Bets In Jeopardy

Why It Matters: Biden’s recent actions could be tied to his administration’s struggle to maintain favor with independent voters, a crucial voting bloc. A recent poll found that in the key swing state of Wisconsin, Biden and his potential opponent, Donald Trump, were in a dead heat, with independent voters leaning more towards Biden.

Yang’s analysis aligns with Biden’s previous efforts to address rising food prices, which he also attributed to corporate greed. Biden accused major grocery chains of exploiting consumers amid escalating inflation.

However, Biden’s anti-corporate stance comes at a time when inflation remains stubbornly high. Economists have warned that inflation is not likely to return to the target rate without significant policy changes, raising questions about the effectiveness of Biden’s approach.

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Image made with Midjourney AI.