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A Harvard economist who worked in President Obama’s administration ripped Vice President Kamala Harris’ price control plan to curb inflation as not based in “reality.”
“This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” Jason Furman told The New York Times in a report published Friday. “There’s no upside here, and there is some downside.”
The Harris campaign announced on Wednesday she would institute a federal price-fixing plan for corporations, as president, to stop “big corporations” from taking advantage of consumers.
“There’s a big difference between fair pricing in competitive markets and excessive prices unrelated to the costs of doing business,” the Harris campaign said in a statement. “Americans can see that difference in their grocery bills.”