Why Kamala Harris is Promising to Combat Inflation in the Future

It's often heard that Kamala Harris, the current Vice President of the United States, is promising to combat inflation in the future. This reiteration sometimes comes from those who are either misinformed or have a misunderstanding of the roles and structures within the U.S. government. Let's break down why this view is not entirely accurate.

The Myth of Vice Presidential Power to Combat Inflation

Is Kamala Harris really in a position to combat inflation immediately? This is a common misperception. As the vice president, Harris does not have the authority to introduce legislation in Congress or initiate unilateral actions. Her role involves acting as a supportive figure to the President and providing advice, but she cannot independently introduce bills or policies without the support and cooperation of Congress.

The Federal Reserve: The Real Inflation Fighter

The organization primarily responsible for managing inflation in the U.S. is the Federal Reserve. This independent monetary policy-making body sets the direction for interest rates and attempts to manage inflation within the economy. While the President can influence the economy through budget proposals and other means, the most direct action to combat inflation involves the Fed's actions, such as adjusting interest rates and monetary policies.

The Role of the President and Congress

While the President can propose budgets and economic policies, the final decision-making and legislative actions are carried out by Congress. If a President wants to influence inflation, she must work closely with Congress to enact appropriate changes. This collaborative process ensures that any economic policies are sound and supported by both branches of the government.

Potential Actions to Combat Inflation

For example, if President Biden wants to address inflation, he can propose a budget that either increases or decreases the deficit. However, these proposals need Congressional approval. If these measures are implemented correctly, they can contribute to stabilizing or reducing inflation. However, the Federal Reserve remains the primary actor in directly managing inflation.

Current Inflation Levels and Economic Actions

As of September 2024, inflation levels stand at 2.5%, which is within the normal range. The Federal Reserve is currently considering lowering interest rates to further support the economy. The Biden administration has also taken steps to lower drug prices through the Inflation Reduction Act, which includes capping insulin prices and allowing Medicare to negotiate drug prices for the first time.

Kamala Harris and Her Leadership Record

Regardless of one's political leaning, Kamala Harris has her accomplishments. She was voted the most liberal senator in Congress, which shows her dedication and effectiveness in supporting progressive policies. However, it is important to evaluate her record based on verifiable sources rather than speculation.

Evidence for Inflation Countermeasures

If you have credible sources that support any of the claims mentioned, it is always best to share them. Dismissing someone's position without evidence is not productive. A well-supported argument is much stronger and more convincing than unfounded claims.

In conclusion, the role of the Vice President in combatting inflation is limited to providing supportive actions and policy advice, but the real actors in this fight are the Federal Reserve and Congress. Understanding these dynamics helps clarify the roles of those in power and supports informed discussions about economic policy.