CNBC’s Joe Kernen grew more and more frustrated along with his visitor Sen. Elizabeth Warren (D-MA) on Friday as she time and again defended Vice President Kamala Harris’s promise to cross a federal ban on value gouging within the meals trade.

On Squawk Box, Kernen kicked off his interview with Warren by arguing why banning price gouging is essentially value keep an eye on and that policy doesn’t work.

“If beef is too high, individuals don’t move to chicken as a result of competitors don’t are available to undercut where the beef prices are. Nothing works when you attempt to artificially try to control prices. It’s just a provide and demand problem. It’s a unsuitable concept,” he mentioned.

“So did you have got a query right here?” Warren requested.

“Yes, why would you plan a improper concept when the real problem — in the event you really want to assist the middle type, should you truly, clearly need to help people having hassle on the grocery retailer, it’s no longer worth gouging that’s the problem, and for those who look at it severely and you in point of fact need to lend a hand him, let’s do something about it collectively, tremendous,” Kernen shot again.

“I be mindful if you wish to do a lecture about this, but let’s just start with where have you ever been for the ultimate 30 years as three dozen states have worth gouging laws and they have got used them successfully?” Warren answered.

Kernen later called the hassle a “idiot’s errand” noting that grocery shops have a lot smaller profit margins than in other industries like expertise. There can be no sensible method to control prices across a provide chain with out the price coming again on the patron, he said. Kernen additionally accused Harris, Warren, and others of specializing in “worth gouging” to distract from other issues using inflation, like government spending.

“How do you make a decision? This is not the government’s job to make a decision these things. It’s a fool’s errand. And in addition, you’re the usage of it to divert the actual lead to of inflation over the past four years which is you had demand after the pandemic, which clearly there was once lots because reopened, and all of a sudden there are provide chain considerations and the demand is juiced through all of this stimulus from the [Inflation Reduction Act] and the entire different spending that we did,” he mentioned.

“One of the most motives of costs going up is there are companies which have market dominance that have stated, oh, this can be a moment when individuals are speaking about —” Warren mentioned before a frustrated Kernen minimize in.

“K, give me some other one. Name some other one. Provide me an occasion,” he mentioned.

“Can I please finish my argument?” Warren requested.

The 2 endured their heated exchange with Warren arguing that it’s “worth gouging” on prime of inflation that’s the issue, while Kernen insisted worth gouging in the food industry is nowhere close to sufficient of an issue to inflate costs as much as they are.

“You simply wish to keep talking, and also you received’t let me end,” Warren mentioned at one level.

Kernen accused Warren of being “disingenuous” with her figures, arguing the rising revenue margins of meals-based corporations can also be attributed to a variety of components beyond value gouging.

“The remedy for better prices is when folks come in and undercut those prices and provide goes back up. This has been due to the fact 1776!” Kernen said.

Watch above by the use of CNBC.

The put up ‘You Have a Query Here?’ Elizabeth Warren Snaps At CNBC Host ‘Lecturing’ Her On The Economy first appeared on Mediaite.