Adam Millsap outlines different ways to curb inflation in Forbes.
- As inflation continues to reach record-highs, there are several steps that policymakers can take to reduce costs for consumers.
- One of the most impactful policies would be rescinding tariffs, which collectively cost consumers $51 billion in higher prices.
- Another step to increase supply in order to keep up with demand is to reduce regulations that stump economic growth.
- By enacting pro-economic growth policies, lawmakers can alleviate financial burdens on consumers and accelerate innovation.
“Studies show that more regulation increases prices, increases poverty, increases income inequality, reduces employment, and lowers business investment. All these negative effects exacerbate the harm caused by inflation. Reducing regulation would have the opposite effect and alleviate inflation.”
Read the full article here.