President Biden claimed Wednesday that inflation was "skyrocketing" when he took office despite federal data showing that consumer prices remained low at the time.
I’m not an economist, but looking at reports from the Beaureu of Labor Statistics from 2021, it looks like CPI started its upward trend in Oct 2020, and by January was certainly on the path to skyrocketing if not already. I dunno what legislation Biden would have been responsible for that could have affected the economy so quickly in his term?
I’m not an economist, but looking at reports from the Beaureu of Labor Statistics from 2021, it looks like CPI started its upward trend in Oct 2020, and by January was certainly on the path to skyrocketing if not already. I dunno what legislation Biden would have been responsible for that could have affected the economy so quickly in his term?
Several. The inflation reduction act. The promise of more government spending. More Covid paychecks.
Anytime you have rampant government spending, you get inflation. Joe spent a lot of money very quickly
Not that quickly. The inflation reduction act for example was a year and a half later in 2022.
Oh smack. You are correct. I was wrong.
Are you aware of anything like that happening while Trump was president?