'The biggest part of the problem of our inflation is our own policies, not just in the immediate term but over the last several years.'
Photo by Stefani Reynolds/Getty ImagesWill Ruger told Insider the Ukraine war was being used as an "excuse" for problems already facing the US economy.Americans can't blame Vladimir Putin alone for soaring gas and grocery prices, a leading economist has said.
"The biggest part of the problem of our inflation is our own policies, not just in the immediate term but over the last several years," Will Ruger, president of the American Institute for Economic Research, a libertarian-leaning think tank, said in an interview with Insider.found that four in five Americans pinned "a great deal" of blame on Russia's president for the economic challenges they're facing, be they at the gas pump or in the grocery store.
Ruger said: "If American consumers blame Russia for increased costs at the grocery store, or in other parts of the economy, then that would be a hugely incomplete picture of what's really going on."long before Russia invaded Ukraine – although the war had applied further pressure. "We were having problems beforehand and even if there was peace tomorrow, we would be having some of these challenges ahead," Ruger said. "A big part of that is that our monetary policy and our fiscal policy have been off the rails for some time."
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