Biden against ‘junk rates’ as part of his plan to fight inflation

High inflation continues to affect Americans and the issue will play a key role in the November elections. For that reason, President Joe Biden announced measures to provide relief to consumers.

As the price of gasoline continues to drop, the White House is seeking to eliminate bank fees, hidden charges and additional costs on bank bills, cable, airline tickets and hotel reservations. And hold the companies that charge these prices accountable. Joe Biden said on Wednesday: “These are garbage rates. They are unfair. And they hit marginalized Americans the hardest, especially low-income people and people of color. They benefit big corporations, not consumers, not working families. And that changes now.”

Last month, the president asked the White House Competition Council to scrutinize companies that use complicated algorithms to hide charges and make clear that it is illegal to charge people if a check bounces or impose overdraft penalties.

Daniel Ferralez, a voter in Illinois, states: “A lot of struggles are going on right now in this country with food, everything in general. They say that we are not in inflation, but economically it is hurting us. Whatever you want to call it, it’s hurting us all.”

In the face of recent polls showing voters more concerned about issues like high prices and crime, rather than issues like abortion or gun control, Biden is making an effort to address these issues more.

According to Biden, the American people are frustrated and know that the world is in crisis, that the war in Ukraine has created tensions in Europe and in the rest of the world and that this generates an increase in the cost of food and oil. That is why intervention from the White House is crucial, now as never before, the president said.