Bezos: White House misleading public or misunderstands market basics

Amazon.com founder and CEO Jeff Bezos presents the company’s first smartphone, the Fire Phone, on June 18, 2014 in Seattle, Washington. The much-anticipated device is available for pre-order today and is available exclusively with AT&T service. (Photo by David Ryder/Getty Images)

OAN NEWSROOM
UPDATED 11:31 AM PT – Wednesday, July 6, 2022

The White House denied accusations made by billionaire Jeff Bezos in which he claimed President Joe Biden is misleading the public over gas prices. On Monday, Press Secretary Karine Jean-Pierre dismissed this claim that the administration’s handling of inflation is either “misdirection or deep misunderstanding of basic market dynamics.”

Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics. https://t.co/XgKfEICZpk

— Jeff Bezos (@JeffBezos) July 3, 2022

Bezos, founder of Amazon, was criticizing Biden for telling gas station owners to lower the cost of fuel themselves.

“As you know, we we completely disagree with Jeff Bezos,” said Jean-Pierre. “Look, we will continue to call on everyone along that distribution chain, as I just mentioned, from oil companies to refineries to district distributors to to retailers to pass their local lower cost through to consumers. That is what is important to make sure that we should not make, again, consumers pay first and get back and get that relief last.”

National average gas prices sit at $4.80 a gallon, which is 53 percent higher than a year ago, according to AAA data.

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