Inflation has reached its highest levels in decades, and uncertainty abounds: is it Biden’s fault? Russia’s? Is the pandemic to blame? Are we heading into a recession? A panel of experts joined Roundtable to discuss the ongoing causes and effects of inflation and how it will continue reshaping the economy. In this segment, the panel discusses who inflation is affecting and how. In this segment, the panel discusses what policy interventions could mitigate inflation’s effects on the working class.
Marc LoPresti argues that inflation-era policy should first address the most immediate price impacts on the lives of working people: the cost of food and gas.
“You do as much as possible to lower gas prices. If people can't afford to drive to work, they can't afford to buy the food that's too expensive,” he says. “The second thing is to do more to support the American agriculture infrastructure. You have to do more to support the local farmers. And I'm not talking about just subsidies and throwing money at the problem. It's investing in AgTech to create more profitable yield and agriculture in this country.”
Julia Whippo adds that incentivizing investment in production could also counteract the crisis’ effects on the U.S.
“Countries grow in wealth when they produce more than they consume, and that's how America got to where it was," she says.
"Now it's been writing on the hotels of that, but we've been consuming significantly more than we've been producing for decades. With the devaluation of the currency, those products become more attractive in the international market, and then we transition more into a production economy instead of the consumer economy that we are so heavily right now.”
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Watch the full discussion below:
Marc LoPresti, Co-Founder, Battlefin Group
Jon Najarian, Co-Founder, Market Rebellion
Julia Whippo, Entrepreneur and Investor
Alex Mascioli, Co-Founder, Trade the Chain