Everyday Americans are feeling the wallop on their wallets from unchecked inflation. From gas prices to food prices, the country is experiencing unprecedented levels of economic woes.

But who is to blame for this disaster?

“I think that there are two co-conspirators in this economic crime. And one is the Biden administration, for spending so much money,” says economist Stephen Moore, a visiting fellow at The Heritage Foundation. “And then the second would be the Fed for being so late to the game in recognizing that this inflation was real and not transitory, and taking steps to combat it.”

Although the government could take steps to address inflation and dodge a recession, Moore says, it’s unlikely that the Biden administration will act properly.

“I think, actually, that if you had the right set of policies put in place, we could avert a recession. We could get back on a good path,” Moore explains. “I think what worries me, and also worries the financial markets, is there’s not a hint out of this White House that they’re going to change strategies. None.”

Moore joins “The Daily Signal Podcast” from Heritage’s recent Resource Bank conference to discuss America’s economy and how we can get back on track.

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