During an interview with Bloomberg on Friday, acting Labor Secretary Julie Su stated that a tweet from President Joe Biden where he said that corporations that haven’t brought their prices down as price growth has continued, just at a slower rate, meant that “we’re all in this together and we will pursue economic policies that help to bring down prices and control inflation. But everyone’s got a job to do on that.”
Co-host Jonathan Ferro asked, “He’s had a lot to say about Corporate America as well. I’m going to share a tweet from the President with you and I want your thoughts on it, I want you to translate it if you can, because I don’t understand it. It says, ‘Let me be clear to any corporation that hasn’t brought their prices back down even as inflation has come down: It’s time to stop the price gouging. Give American consumers a break.’ What is the President talking about?”
Su responded, “The President’s saying that we have a job to do in this country. And we want working people and middle-class families and every community across the country to have the things that they need to live a decent life. We want safe roads and new bridges. We want clean drinking water to flow out of every faucet. We want high-speed reliable Internet.”
Ferro then cut in to ask, “Just this tweet specifically, inflation is slowing, but it’s still positive, so prices are going up. But the President’s saying inflation has come down, why are corporations still price gouging? That’s just — economically speaking, just absolutely flawed. So, acting Labor Secretary, who writes these tweets? What’s he talking about?”
Su responded, “He’s saying that we’re all in this together and we will pursue economic policies that help to bring down prices and control inflation. But everyone’s got a job to do on that. And we — when there are record profits by companies who are continuing to keep prices high, we’d like them to play their role in making sure that people can afford the basics they need in life.”
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