Stuart Varney: Biden’s inflation plan ‘will do nothing’
Biden, Fed Chair Powell to discuss inflation woes at White House
FOX Business host Stuart Varney argues Americans are 'not getting much reassurance from the White House' amid rising inflation.
During his latest "My Take," "Varney & Co." host Stuart Varney blasts Biden's latest plan to combat inflation, arguing the president is "still in the grip" of the climate crowd and far-left.
STUART VARNEY: The inflation news is not good today.
We'll let the economists figure out whether we've hit peak inflation, but as of now, today, we are confronting price hikes that come as a shock.
It seems like we're spiraling up. It makes you uneasy. Where's this thing going?
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We're not getting much reassurance from the White House. In the Wall Street Journal, the president offers "my plan for fighting inflation." It has three points:
Number one, leave it to the Fed.....he won't "interfere."
Number two, "make things more affordable for families"... That means big spending. Big subsidies.
And number three, lower the deficit by taxing businesses and billionaires.
That’s the plan.
FOX Business host Stuart Varney discusses the president's inflation plan as prices rise in the U.S. (Fox News)
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It will do nothing to bring inflation down now or in the future.
It does not address the desperate need to raise America's energy production.
This president is still in the grip of the climate crowd.
And he's in the grip of the far-left too: only socialists believe that you bring inflation down by spending another trillion, and raising taxes on businesses and billionaires.
If this is the plan, we're all in trouble.
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We're going to see people pulling back their spending when they can't take the price hikes. And that will slow the economy. Stagflation is not going to be pretty.
But this is what you get when the government spends by the trillion, the Federal Reserve prints money by the trillion, and the greens run energy policy.