According to the experts, there isn't a lot politicians can do to lower costs no matter what party they are in. That’s because the issues we are facing, inflation and higher energy prices, are a global problem and not just a United States problem.
When it comes to inflation, the rate right now in the U.S. is just over 8%. Meanwhile, countries like the United Kingdom and Germany are over 10%, and the Netherlands is nearly 15%.
The global pandemic, followed by a supply chain crisis and then the war in Ukraine, have been shocks to the global economy. Since the United States is part of the global economy, Americans have also felt the shockwaves.
When it comes to public policy, there is no silver bullet to deal with inflation. Experts told the Washington Post that while there are small moves elected leaders could make to fix the problem, the solutions would be too little and too late for those struggling to afford groceries every week.
That's because the private sector drives the economy and not Washington D.C.