Market Daily

Market Daily

Bezos Takes to Twitter to Call Out Biden for “Misdirection”

Jeff Bezos clashes with White House figures again following Biden's tweet
Jeff Bezos clashes with White House figures again following Biden's tweet

The unwavering inflation and increasing gas prices has been the talk of the town for several months in the United States, but the only world took a break to see what Amazon founder Jeff Bezos posted in retaliation to President Joe Biden’s tweet last Saturday.

“My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril,” tweeted the President. “Bring down the price you are charging at the pump to reflect the cost you’re paying for the product, and do it now.”

Bezos quote-retweeted Biden’s tweet with a dig at his message.

“Ouch. Inflation is far too important a problem for the White House to keep making statements like this,” he said. “It’s either straight ahead misdirection or a deep understanding of basic market dynamics.”

Read also: Federal Reserve Chairman Doesn’t Believe a Recession Will Occur

Naturally, the White House rallied to the President’s side, defending his choice of words regarding the high gas prices.

White House Press Secretary Karine Jean-Pierre cleared the air regarding Biden’s statement.

“Oil prices have dropped by about $15 over the past month, but prices at the pump have barely come down,” Jean-Pierre tweeted. “That’s not ‘basic market dynamics.’ It’s a market that is failing the American consumer.”

Jean-Pierre also took the time to criticize Bezos, saying:

“But I guess it’s not surprising that you think oil and gas companies using market power to reap record profits at the expense of the American people is the way our economy is supposed to work.”

National Security Council coordinator for strategic communications John Kirby spoke with Fox News on Sunday to let Bezos know he was wrong, saying Biden “tells exactly what he’s thinking in terms that everybody can understand.”

Last month, the President criticized Exxon Mobil for “making more money than God this year” with its record-breaking profits while Americans had to pay record-high prices at the pump. He also met with several executives and CEOs for oil companies, encouraging them to do more to lower gas prices.

Bezos’ clash with Biden on Twitter was not the first as the Amazon CEO has sparred with the White House multiple times, often to tackle the inflation issue.

Read also: President Biden Set to Visit Saudi Arabia in Mid-July

Opinions expressed by Market Daily contributors are their own.