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.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
no subject
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.