Inflation is a lagging indicator. And once price hikes get baked in, they remain—-even as the inflation index falls. Yes, people were struggling with rising prices under Biden. They were a result of staggeringly huge deficit increases under Trump coupled with abnormally low Federal Reserve interest rates.
I also suspect the whole "identity politics" thing played a role although we're not reading a whole lot about that. Mainstream America does not like identity politics.
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Date: 2024-Nov-07, Thursday 12:50 pm (UTC)Inflation is a lagging indicator. And once price hikes get baked in, they remain—-even as the inflation index falls. Yes, people were struggling with rising prices under Biden. They were a result of staggeringly huge deficit increases under Trump coupled with abnormally low Federal Reserve interest rates.
I also suspect the whole "identity politics" thing played a role although we're not reading a whole lot about that. Mainstream America does not like identity politics.