Twitter confrontation between Joe Biden and Jeff Bezos over inflation in the US.

Jeff Bezos, the founder and CEO of Amazon, used his social networks to criticize the president of the United States, Joe Biden, who pointed out that the way to control inflation is by making “the richest corporations pay their fair share.”

“Do you want to lower inflation? Let’s make sure the richest corporations pay their fair share” was the trill of the US president, to whom the businessman said: “The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board in their place. Increasing taxes on companies is fine to discuss. Taming inflation is essential to discuss. Mixing them together is just a misdirection.”

It is worth remembering that Biden assured that “Inflation is their top national priority.” This at a time when rising prices are weighing on family budgets and their popularity.

In addition, the president maintained that some of the “roots of inflation” are “out of (his) control”, referring to the effects of the covid-19 pandemic or the effects of Russia’s war against Ukraine. His message is known at a time when gasoline prices reached a new record.

It should be noted that Amazon paid $3.7 billion in US taxes in 2021, on global revenue of $469 billion.

For its part, in the most recent financial results of the company it was known that it had a turnover in accordance with what was expected by the market in the first quarter, of 116,400 million dollars, but lost 3,800 million dollars due to a fall due to investments in electric car maker Rivian.

The company blamed the $7.6 billion loss on its investment in electric carmaker Rivian Automotive. Rivian, in which Amazon led a $700 million investment in 2019, has seen its shares fall by more than 75% since its successful IPO in November 2021.

Additionally, Amazon shares sank about 10% in after-hours trading following the results.

US inflation

The fight against inflation, at maximum levels in 40 years in the United States, could affect economic growth and employment, warned Thursday the president of the Federal Reserve, Jerome Powell, after being confirmed for a second term as head of the Bank. Central.

That said, consumer prices slowed down slightly in the United States, standing at 8.3% during the month of April, two tenths less than in the previous month, reported this Wednesday, May 11, the Bureau of Labor Statistics of the Department of Worked.

Inflation had been running at 8.5% in the 12 months ending in March, but slowed last month amid falling energy costs. Indeed, gasoline fell 6.1% in April compared to March.

However, despite this decrease, energy costs increased 30.3% in the last 12 months and the cost of gasoline is 43.6% higher than a year ago.

Prices continued to rise for a variety of items, including housing, food, airfare and new cars, with inflation running at its highest level since 1982.

Food hit a jump of 10.8% in the last 12 months, which is the largest annual increase since November 1980, according to the report. Beef, poultry, fish, along with eggs, rose 14.3%, the highest level since May 1979.

Likewise, dairy products and cereals registered significant increases in April, although the prices of fruits and vegetables fell.

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Twitter confrontation between Joe Biden and Jeff Bezos over inflation in the US.