On Wednesday, GOP candidates expressed their concerns regarding the post-pandemic economic turmoil and inflation, criticizing the Federal Reserve's dual mandate. The candidates, including South Carolina senator Tim Scott, called for a shift towards price stability as a measure to combat inflation. The endorsement of the Keystone XL pipeline was also proposed as a method to increase resource flow and provide predictability for oil and gas permit holders. Former New Jersey Governor Chris Christie backed these views, emphasizing the role of energy policy in managing inflation.
In the GOP presidential debate on Wednesday, Florida Governor Ron DeSantis identified "Bidenomics" and the Federal Reserve's post-COVID-19 monetary policy as triggers of inflation. He pledged to discard these policies on his first day in office, refocusing the Fed on price stability and providing the economy with breathing room.
Scott emphasized the role of energy policy in combating inflation, proposing the reinstatement of the Keystone XL pipeline to enhance resource flow and ensure certainty for oil and gas drill permit holders. This sentiment was echoed by New Jersey Governor Chris Christie, who stressed that energy is pivotal in driving down prices.
Presidential candidate Vivek Ramaswamy advocated for a surge in supply across all sectors, particularly housing. He pointed out that land-use restrictions are a significant hurdle to affordable housing for everyday Americans.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.