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No. He’s making a connection between large corporations pushing prices higher under the cover of general inflation, on the one hand, and the same companies getting away with not paying taxes on the other. The whole quote was: “While families struggle to pay their bills, some corporate — corporate executives are on earnings calls with investors on Wall Street, cheering their record profits and explaining how they’re using this period of inflation to cover the rise in prices far beyond what they need to do to cover their costs. And all this time, they’re not even paying for a fair share of taxes in the first place.
It’s just a political link not an economic one. Taxing corporations more won’t ease inflation. But in fairness the bulk of the speech gets inflation – causes and levers to address it – right. Causes: pandemic disruptions and Russia’s invasion of Ukraine on top of a strong economy. Solutions: Fed tightening, rolling back QE, getting Ukrainian grain stores out into the market.
If you want to know what he and his office are doing, then watch the daily press conference that the White House hosts. Listen to Biden’s speeches. Just generally follow the news for all the stuff that goes on. The last thing we need is another attention whore like we had for the previous 4 years, constantly blabbing about this and that without actually getting anything done.
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