Biden Can't Fix High Beef Prices With $500 Million

The rising price of beef offers a meaty lesson on the limits of the government's ability to combat inflation by throwing more money at the problem.

Even in an environment where almost everything is getting more expensive, the price of a pound of beef can make your eyes water. The Bureau of Labor Statistics says beef prices are up 12 percent since last September—beef steaks, specifically, are up by 16 percent over the same period. That's considerably more than the increases for food products (3.7 percent) and all products (5.3 percent) over...