Americans have bigger concerns, however. Inflation, now running at 6.2% per year, has quickly become the dominant economic trend and a wrecking ball for Biden. Like Federal Reserve Chair Jerome Powell, Biden said over the summer that a spurt of inflation was likely to be temporary because the cause was a variety of one-time factors stemming from the Covid pandemic. Four months later, inflation is getting worse, not better. Biden clearly didn’t expect that, and he now has some ‘splaining to do.
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