.POTUS has boasted about falling inflation but may have spoken too soon. Friday night, Biden claimed that inflation was still falling, just days after the BEA announced that the FederalReserve's preferred inflation gauge rose in April.
Speaking during a Friday night address on the debt ceiling, Biden claimed that inflation was still falling, just days after the Bureau of Economic Analysis announced that the Federal Reserve's preferred inflation gauge rose in April."More Americans are working today than ever in the history of this country. And inflation has dropped 10 straight months in a row," the president claimed.
Conservatives, who have hammered Biden for nearly two years over rising prices, say it's a sign that he still doesn't have the issue under control. "The Biden presidency will forever be marked as one where Americans got poorer and saw their living standards decline," he said. Biden has celebrated those developments over the last months, taking a victory lap every time a new jobs report comes in.
That means the president may stick the soft landing he's been targeting from the stimulus-ridden pandemic economy, argues University of Massachusetts economics professor Gerald Friedman.
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