CNN’s, WaPo’s Rampell: Harris Is Proposing ‘Price Controls’ and Those Cause Shortages

On Thursday’s broadcast of CNN International’s “CNN Newsroom,” CNN Economics and Political Commentator and Washington Post columnist Catherine Rampell stated that 2024 Democratic presidential candidate Vice President Kamala Harris is proposing “basically price controls” when you look at the details, “to the extent that there are any details, you look at the legislative templates that she’s likely to draw from, including legislation she had sponsored when she had been a senator,” and when countries have attempted price controls, “They backfire, they lead to shortages, they lead to uncertainty, they lead to black markets, etc.”

After criticizing several of 2024 Republican presidential candidate former President Donald Trump’s economic statements and policy proposals, Rampell stated, “So, she has — or her campaign has already put out a sort of memo about price gouging, which is really, if you look at the detail — or to the extent that there are any details, you look at the legislative templates that she’s likely to draw from, including legislation she had sponsored when she had been a senator, it’s basically price controls. And lots of countries have tried some form of price controls. They backfire, they lead to shortages, they lead to uncertainty, they lead to black markets, etc. That has been very discouraging to see her lean into.”

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